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CARROLL and PGIM Real Estate have sold a portfolio of 12 multifamily communities in NC, TN and FL for $885.5 million.

CARROLL, PGIM Sell Portfolio of 12 Southeastern Multifamily Properties for $886M

Atlanta, GA-based CARROLL, in partnership with PGIM Real Estate, has completed the $885.5-million sale of 12 multifamily communities representing 3,564 total units across NC, TN and FL.

The seller was represented by Eastdil Secured in the transaction. Clarion Partners, LLC, acquired the portfolio in a venture with Blackfin Real Estate Investors, LLC.

  • Three Wilmington, NC communities (Cape Harbor by ARIUM, Clear Run by ARIUM, Mill Creek by ARIUM)
  • Three Charlotte, NC communities (Mallard Creek by ARIUM, Northlake by ARIUM, Harris Pond by ARIUM)
  • Two TN communities (Williamsburg by ARIUM in Hendersonville and The Club by ARIUM in Antioch)
  • Four FL communities (Heron Lake by ARIUM and The Vinyards by ARIUM in Kissimmee, Lake Pointe by ARIUM in Melbourne and Bay Cove by ARIUM in Clearwater.)

The 12 communities were part of a 2017 acquisition of a 28-community portfolio purchased as the first joint venture transaction between PGIM Real Estate and CARROLL.

Photo: Northlake by ARIUM


Inside The Story


About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition