CARROLL Expands Footprint to Mountain West Region with Denver Acquisition
Atlanta, GA – CARROLL, a national real estate investment company, announced today that it has acquired Copper Canyon Apartment Homes in Denver, CO. This property marks CARROLL’s first acquisition in the Mountain West region of the United States. Copper Canyon is also the first acquisition for CARROLL’s latest vehicle, Carroll Multifamily Venture VI, LP. The property will be managed by CARROLL and rebranded ARIUM at Highlands Ranch.
“CARROLL has been strategically targeting and studying the Mountain West region for several years and found this attractive opportunity for our first investment in the next phase of our growth. Denver’s business-friendly climate, high quality of life, and relative affordability have led to rapid job and population growth, fueling robust multifamily demand,” said M. Patrick Carroll, Chief Executive Officer of CARROLL. “We are thrilled to acquire such a well-located, high-quality asset featuring significant value-add upside through interior and amenity renovations.”
Copper Canyon Apartment Homes is a 222-unit garden-style community located in the Highlands Ranch master-planned community, one of Denver’s most desirable suburbs. Its location provides easy access to I-15 and Highway 470, which allows for a 15-minute drive to all business parks comprising the greater Southeast Business Corridor, Colorado’s premier employment center with more than 260,000 jobs and half of the state’s Fortune 1,000 companies. Highlands Ranch is also home to some of the best public schools in Denver. Copper Canyon’s amenities include a 24-hour fitness center, swimming pool with heated spa, courtyard with grilling area, and pet friendly social spaces. The property offers both covered parking and detached garages.
CARROLL has now purchased ten properties totaling over $500 million in 2019 and is continuing to actively purchase high-quality multifamily communities in the Southeast, Southwest, Mountain West and other strategic target markets across the country. CARROLL sources many of its deals “off-market” directly from developers and owners and is recognized in the industry as a best in class operator and renovator.
CARROLL, a privately-held real estate company, was founded in 2004. With headquarters in Atlanta, CARROLL focuses on multifamily properties, including acquisitions, property and asset management services, and fund management. The firm has raised over $2.4 billion of equity through CARROLL sponsored funds and joint ventures. CARROLL has successfully purchased, developed or sold over $10.2 billion of real estate. CARROLL also has regional offices in Houston, Raleigh, and Tampa.
The company manages over 35,000 multifamily units in eight states and has purchased other multifamily owner/operators throughout the U.S. The firm has also developed student housing, single-family residential and retail properties, and has overseen more than $200 million of construction management for both its owned and fee partners. From due diligence to execution, CARROLL has the internal capabilities and the external relationships to identify, underwrite, and close transactions. For more information, visit www.CarrollOrganization.com.