Carroll Organization and PGIM Real Estate have acquired three portfolios in Raleigh-Durham, N.C.; Ponte Vedra Beach, Fla.; and Charleston, S.C., totaling a combined value of approximately $600 million.
“These latest portfolio acquisitions are consistent with PGIM Real Estate’s strategy to pursue workforce housing investments in well-located, pro-business metropolitan markets with a limited supply of apartments and a robust demand for affordable housing options,” said Alfonso Munk, Americas chief investment officer for PGIM Real Estate. “Our ongoing partnership with Carroll Organization will enable us to create an enhanced living experience for the residents at these 13 communities, while delivering compelling, supply-resistant investment opportunities to our investors.”
Carroll Organization was acting on behalf of its latest investment vehicle, Carroll Multifamily Real Estate Fund V. And PGIM Real Estate, acting on behalf of institutional investors, is the
