Carroll Organization and Praedium Group Acquire Multifamily Property in Houston
- Apr 04, 2012
Houston—Carroll Organization, a multifamily real estate firm focusing on ownership and operations, and Praedium Group, a real estate investment firm, have acquired a 302-unit apartment community in Houston.
“We love the fundamentals and job growth in Houston,” Patrick Carroll, CEO, Carroll Organization, tells MHN about what drew his company to that area.
The property, which will be rebranded as Carroll at Green Trails, includes one-, two- and three-bedroom garden-style apartments with direct access to one and two-car garages. Apartments feature in-unit washers and dryers, custom cabinetry and walk-in closets.
Building amenities include a fitness studio, swimming pool and billiard room.
Carroll at Green Trails is located in one of the top-rated school districts in Texas, in the Katy Independent School District. It is also located near both Interstate 10 and Beltway 8, as well as several parks, including the George Bush State Park and the Barker Reservoir.
Additionally, Carroll at Green Trails is five miles from the Energy Corridor District, which Carroll says it what attracted Carroll Organization to the acquisition.
“Our seasoned team of investment professionals utilized their local knowledge to identify this high-quality asset in a submarket of Houston that has consistently maintained impressive economic, population and job growth,” Carroll says. “We are pleased to add this impressive community to our growing portfolio of Class-A apartment homes. Carroll at Green Trails is our second acquisition in the Houston area, and we look forward to sourcing additional opportunities in this thriving market.”