Carroll Organization finalizes sale of multifamily property in Orlando

Carroll Organization has completed the sale of ARIUM Bala Sands in Orlando, Fla.

“ARIUM Bala Sands represented an opportunity to acquire a well-located asset in west Orlando with excellent bones for a value-add renovation program. The property has a distinct advantage of being one of the only assets in the competitive set with nine-foot ceilings and featuring attached garages in all units,” said M. Patrick Carroll, CEO of Carroll Organization.

This property was previously recapitalized from another of Carroll’s joint ventures in September 2016. The property was a part of Carroll Multifamily Real Estate Fund IV, and managed by Carroll Management Group.

ARIUM Bala Sands is a 298-unit lake-front, garden-style apartment community built in 2002 across 36 acre