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Carter Funds Completes Disposition of 16 Multifamily Properties for $394M
Carter Funds sold 16 garden-style multifamily properties located throughout the southeastern United States for approximately $394 million. The properties were owned by Carter Multifamily, a Carter Funds company which purchased the properties throughout 2019 for $274 million.
Renovations, operational improvements, and solid market performance enabled Carter Funds to reposition and market the assets as beneficial value-add opportunities in high-growth submarkets of the southeast region.
“We are looking forward to finding new ways to generate value and take advantage of the strong multifamily fundamentals in the Southern markets we consider for future acquisitions, while also providing middle market Americans with affordable, quality housing,” said Ray Hutchinson, chief investment officer of Carter Funds.
- ◦Sale/Acquisition
