M Patrick Carroll, the founder and CEO of CARROLL, a prominent, Atlanta-based real estate investment firm, announced recently that the firm’s seventh multi-family property investment fund is going to expand its reach beyond the company’s mainstay of Southeastern and Mid-Atlantic US properties to also include properties in the Western US. In fact, real estate tycoon M Patrick Carroll shared that the company currently has two Las Vegas properties in its pipeline.
The new investment fund is expected to launch in the fourth quarter of 2021. Carroll says the firm anticipates having a minimum of $500 million in investments when the fund launches. He says interest has been so keen that they may even exceed that goal. “Investor interest is as strong as I’ve ever seen it,” explains Carroll. “Investors in this next fund will be a mixture of existing and new investors.”
CARROLL’s new investment fund will be managed by M Patrick Carroll himself, and, like the previous funds, will use a core-plus and value-add approach. CARROLL has signed on Threadmark Capital and the new fund’s placement agent.
This year is turning out to be an important and exciting year for CARROLL. In addition to launching the new fund, M Patrick Carroll shared that the firm is looking to expand its operations to include ground-up real estate development. CARROLL has approached LCOR, a leading Mid-Atlantic and East Coast investment and development firm, about the possibility of working together on this type of development projects.
“Our partnership would combine LCOR’s expertise in development with our knowledge of the South-eastern US Real Estate markets, to target development opportunities. LCOR also has deep institutional capital relationships and a long history of successful development projects.”
About M Patrick Carroll
M Patrick Carroll is an entrepreneur, real estate innovator and the founder of CARROLL, a leading real estate investment firm. Carroll started his professional journey at age 21 by flipping houses. Today, with more than 20 years experience in the real estate business, Carroll is proud to lead one of the top, privately-owned real estate groups in the United States. He’s also quick to point out that he is self-taught and has succeeded in spite of (or because of) never having attended college.
Carroll now makes his home in New York City. In addition to his role with CARROLL, Carroll sits on the board of the Boys and Girls Club of Tampa, the Jesuit High School Foundation and the Forbes Real Estate Council.
