Fundraising - DECEMBER 22, 2016

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Carroll raises $40m for multifamily fund

by Jody Barhanovich

Carroll Organization has held a $40 million close for its fourth fund, Carroll Multifamily Real Estate Fund IV.

Carroll launched the value-added, closed-end vehicle, which will invest in multifamily assets, in December 2015 with a $50 million equity fundraising target. Carroll plans to raise $360 million in joint venture equity from institutional partners to invest alongside the fund. With leverage, the fund will have a buying power of more than $1 billion.

The investor base for Fund IV comprises high-net-worth individuals, family offices, endowments, sovereign wealth funds and other institutional investors. Carroll plans to deploy capital from the vehicle in $40 million to $80 million transactions in the Southwest, Southeast and mid-Atlantic regions of the United States.

Carroll is currently marketing its fifth fund, Carroll Multifamily Real Estate Fund V,with a $100 million equity fundraising target after receiving increased interest from sovereign

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