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Press release
June 2019

Carroll Organization Acquires Three-Property Southeast Portfolio

Atlanta, GA - Carroll Organization, one of the country's leading privately-held real estate companies focused on multifamily investment, management, and development announced today that it has acquired a three-property, 903-unit portfolio including Hawthorne at Mooresville in Charlotte, NC, Hawthorne Wildwood in Atlanta, GA, and Hawthorne South Oaks in Nashville, TN. All three properties will be a part of Carroll Multifamily Real Estate Fund V, LP, managed by Carroll Management Group, and rebranded under the "ARIUM" name.
 

Atlanta, GA - Carroll Organization, one of the country's leading privately-held real estate companies focused on multifamily investment, management, and development announced today that it has acquired a three-property, 903-unit portfolio including Hawthorne at Mooresville in Charlotte, NC, Hawthorne Wildwood in Atlanta, GA, and Hawthorne South Oaks in Nashville, TN. All three properties will be a part of Carroll Multifamily Real Estate Fund V, LP, managed by Carroll Management Group, and rebranded under the "ARIUM" name.
 
"This investment presented a unique opportunity to acquire three solid value-add properties in three of the most desirable markets in the Southeast – Atlanta, Charlotte and Nashville – all of which are experiencing high job and population growth and driving strong apartment fundamentals," said M. Patrick Carroll, Chief Executive Officer of Carroll Organization. "The outlook for these markets remains strong going forward due to their diverse economies, favorable business climates, relatively low cost of living, and overall quality of life."

Hawthorne at Mooresville is a 268-unit community built in 2000 and located in the heart of Mooreseville, NC. Its location is near I-77 offering a short commute to Charlotte as well as easy access to a variety of shopping, dining, and entertainment options. The property is also in one of North Carolina's top school districts. Hawthorne at Mooreseville offers a plethora of community amenities including a brand new 24-hour fitness center, resident lounge, cyber café and coffee bar as well as a resort-style pool, BBQ and picnic area, and sport courts.
 
Hawthorne Wildwood is a 312-unit community in Marietta, GA. The property offers six unique floor plans options featuring classic and custom interior finishes including granite countertops, sunrooms, vaulted ceilings, wood-burning fireplaces and built-in bookshelves. Hawthorne Wildwood offers easy access to both I-285 and I-75 and is just minutes from Cumberland Mall, The Battery Atlanta, and Atlanta Braves' SunTrust Park.

Hawthorne South Oaks is a 323-unit community just minutes from downtown Nashville, TN. Its resort-style amenities include two swimming pools, two dog parks, 24-hour health hub including yoga and spin room, tennis court, and outdoor fire pit and gas grills. The apartment homes feature newly renovated interiors including modern kitchens, wood-style flooring, oversized closets, and private balconies/patios.
 
Carroll has now purchased thirty-four properties totaling over $1.7 billion since 2018 and is continuing to actively purchase high-quality multifamily communities in the Southeast and Southwest, and other strategic target markets across the country. Carroll sourced many of its deals "off-market" directly from developers and owners and is recognized in the industry as a best in class renovator and operator.

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