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Carroll Organization buys three multifamily communities in Atlanta for $220m
Transactions - OCTOBER 20, 2020

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Carroll Organization buys three multifamily communities in Atlanta for $220m

by Andrea Zander

Carroll Organization has purchased three multifamily communities in metro Atlanta for $220 million, reported media outlets. The sellers of the three communities were not disclosed.

Carroll will rebrand two of the properties, Cascade at Morgan Falls and Fountains at Morgan Falls, under the singular name Arium Morgan Falls. The adjacent communities in Sandy Springs, Ga., total 1,180 units. Carroll plans to invest $30 million in property upgrades to overhaul exteriors, amenities and unit interiors.

The third property, located in Marietta, Ga., is the 418-unit Columns at Bentley Manor, which Carroll will rebrand to Arium on Bentley.

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