Last Updated on Monday, 06 May 2013 11:31 Written by From Staff Reports Tuesday, 07 May 2013 00:00
May 7, 2013 – Carroll Organization, one of the country’s leading privately-held real estate companies focused on multifamily investment, management, and development, along with investment partner NorthStar Realty Finance Corp. has acquired Links at Georgetown in Savannah. The purchase is part of a $102.5 million deal which includes multifamily properties located in Florida, Georgia, and Tennessee.
Among the properties are the Club at Danforth in Jacksonville, FL; Harbour Green in Panama City Beach, FL; and Vintage at the Parke in Murfreesboro, TN. This acquisition marks Carroll Organization’s ninth purchase since the beginning of 2013 and now owns/manages more than 10,000 multifamily units in seven states.
“All four properties are situated in markets with exceptional market fundamentals and provided Carroll Organization with a great investment opportunity,” said M. Patrick Carroll, founder and chief executive officer of the Carroll Organization. “This acquisition is parallel with our strategy of buying in good locations with excellent visibility, and the additional opportunity to increase value through capital improvements and marketing strategies.”
The Links at Georgetown in Savannah is a 360-unit, garden-style multifamily community situated adjacent to, and offering spectacular views of, The Henderson Golf Club. It is also within close proximity to the Savannah Port, one of the country’s fastest growing ports. Links at Georgetown features spacious one, two, and three-bedroom homes with private, ground-floor entryways, security systems, and high vaulted ceilings. Select units have wood-burning fireplaces and garden tubs. The complex is currently 92 percent occupied.
All the properties within the portfolio boast numerous amenities including resort-style swimming pools, tennis courts, fitness centers, internet cafes, and business centers. Carroll Organization will continue to enhance the resident experience through hands-on management, while simultaneously rebranding the properties under the proprietary “ARIUM” name, in keeping with the identity of Carroll Organization’s rapidly growing national portfolio.
During the past 18 months, Carroll Organization has completed over $500 million of multifamily acquisitions. The company sources many of its deals “off-market” directly from developers, and has also become known within the brokerage community as a go-to buyer that performs. Children’s Playground
About Carroll Organization
Carroll Organization is among the leading privately-held real estate companies in the United States. Founded in 2004 and based in Atlanta, Carroll Organization focuses on multifamily property, including acquisitions, property and asset management services, and fund management. The firm has raised over $200 million of equity through Carroll Organization sponsored funds and joint ventures, and its current investment portfolio is valued in excess of $550 million. Carroll Organization’s regional offices are located in Houston, Orlando, and Miami. Today, the company manages over 10,000 multifamily units in seven 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 millions of dollars in construction management for both its owned and fee partners. From due diligence to execution, Carroll Organization has the internal capabilities and the external relationships to identify, underwrite, and close transactions.
Written by Lou Phelps Monday, 08 April 2013 12:06
SBJ Special Report
April 8, 2013 - CBT Commercial Realty, a division of Cora Bett Thomas Austin Hill & Associates Realtors, recently formed a partnership with the CoStar Group, Inc., a world leader in commercial real estate market intelligence.
“We’re excited to provide our clients an elevated level of commercial real estate service,” said Austin Hill, director of operations at Cora Bett Thomas Austin Hill & Associates and CBT Commercial Realty. “The new CoStar real estate market intelligence platform enables our Realtors to help our clients make highly-informed and thoroughly researched commercial property sale and acquisition decisions, in addition to eliminating unnecessary risk.”
Through this new partnership with the CoStar Group, CBT Commercial Realty will gain access to an advanced system of commercial real estate information, including marketing and analytical services throughout the entire state of Georgia and nationwide. This sophisticated software allows agents to research commercial property inventory, comparable sales and leases, demographic data, traffic counts, maps, photos and historical data to strategically position properties in the real estate marketplace.
In addition, with the ability to analyze the financial implications of commercial property sales or acquisitions, CBT Commercial Realty can provide sensitive data and market analysis to clients, offering comprehensive assessments of current market conditions and trends.
“It significantly enhances market information for the savvy and sophisticated client and provides accurate up-to-date information in an ever-changing commercial real estate environment,” said David Minkovitz, a commercial realtor at CBT Commercial Realty.
Cora Bett Thomas Austin Hill & Associates Realtors has a longstanding reputation as a leader in the coastal region’s real estate market throughout coastal Georgia and South Carolina. The CBT Commercial Realty division works closely with investors, tenants, property owners and developers and offers a comprehensive suite of commercial brokerage services including management, leasing, sales and acquisition.
The CBT Commercial Realty team includes Cora Bett Thomas, Austin Hill, David Minkovitz, Graham Sadler, Allen Eager, Mark Reavis, Tommy Thompson, Kim Malphrus and Cristina Emberton, marketing specialist.
For more information about Cora Bett Thomas Austin Hill & Associates Realtors and CBT Commercial Realty, please visit online at www.cbtah.com or call 912.233.6000.