Carroll Organization Acquires Lakeview Lofts in Houston

Carroll Organization has finalized the purchase of Lakeview Lofts in the Bear Creek/Copperfield submarket of Houston, bringing the company’s 2013 multifamily acquisition totals to more than $700 million.
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Houston—The Atlanta-based Carroll Organization has finalized the purchase of Lakeview Lofts in the Bear Creek/Copperfield submarket of Houston, bringing the company’s 2013 multifamily acquisition totals to more than $700 million.

“Houston is a major focus for our company and we feel very confident in this market’s continued growth,” says Carroll Organization Founder and CEO M. Patrick Carroll.

The 366-unit Lakeview Lofts, which will be rebranded as “ARIUM Towne Lake” to remain consistent with the company’s ARIUM brand identity, brings Carroll Organization’s Houston portfolio total to nine properties, with more than 3,000 units. The company’s collection of communities in the Houston area is now valued at more than $325 million.

“The rapid job growth in a number of major business sectors, including energy, and medical-related, is driving demand for quality housing options, and our properties are well-positioned to benefit from these trends,” Carroll says.

The 2,400-acre, garden-style community was completed in 2009 and was awarded the “Master Planned Community of the Year” by the Greater Houston Builders Association in 2012. It features one-, two- and three-bedroom floor plans, as well as lake views, two resort-style, saltwater swimming pools, clubhouse and state-of-the-art fitness center, media room, library, gourmet kitchen and a custom-designed billiards table.

Carroll Organization manages more than 10,000 multifamily units in seven states.