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Dec. 5, 2013

Carroll Purchases Three-Property Portfolio from Camden

By Balazs Szekely, Associate Editor

Carroll Organization has recently acquired three multifamily properties: two communities in Tampa, Florida and one in Charlotte, N.C. Formerly owned by Camden Property Trust, the portfolio consists of Camden Bay Pointe and Camden Citrus Park in Tampa and Camden Habersham in Charlotte.

Founded in 2004 in Atlanta, Carroll Organization has raised over $300 million of equity with an investment portfolio of more than $1.2 billion. The latest acquisition marks Carroll’s first deals in Tampa and Charlotte.

Camden Bay Pointe is a garden-style community built in the mid-to-late ‘80s, consisting of 368 two-bedroom units in 29 two-story buildings. The property is located in the Westshore submarket on Memorial Highway just minutes from the Westshore business district, Tampa International Airport and International Plaza. Besides the walk-in closets, stackable washers and dryers, patios and balconies, residents benefit from access to a state-of-the-art fitness center, clubhouses, picnic areas, resident lounge, two swimming pools, lighted tennis courts, several on-site ponds with tropical landscaping and a car care center.

A few miles Northwest, on Sheldon Road, the 247-unit Citrus Park is still in close proximity to the aforementioned facilities. Built in the same period, in 1985, the garden-style complex boasts large one and two-bedroom homes also equipped with washer/dryers  and walk-in closets. Amenities include a clubhouse and resident lounge with coffee bar, a fitness center, sports courts, dog park, picnic areas with gas grills and tropical landscaping throughout.

Carroll said it would rebrand the recently acquired holdings and continue improving them through hands-on management and capital improvements. The communities will be renamed ARIUM Bay Pointe, ARIUM Citrus Park, and ARIUM Pineville.

Photo Credits: Carroll Organization (ARIUM Bay Pointe)

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