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
- ◦Sale/Acquisition
