The Carroll Organization has acquired ARIUM Bala Sands apartments in west Orlando thru its newest investment vehicle, Carroll Multifamily Real Estate Fund IV, LP. Built in 2003 on a 36-acre site at 8008 Balasands Blvd., the 298 unit community features a fitness center, cyber café and a swimming pool with spa. The property is near Orlando’s downtown, Walt Disney World and Universal Studios. The deal marks the company’s fifth acquisition in the Orlando area in the last year. Terms of the sale were not disclosed.
“We look to acquire high-quality suburban assets that are priced below replacement cost in submarkets with limited new supply,” Josh Champion, the Carroll Organization’s president and COO, told MHN on Tuesday. “The property has some of the largest floor plans in the submarket, and each unit has an attached garage so it truly feels like a townhouse community.”
