ATLANTA—Carroll Organization isn't showing any signs of slowing down on its multifamily acquisition spree. The privately-held commercial real estate company just acquired Bexley Apartments, a 494-unit multifamily community at the epicenter of Cobb County's two major thoroughfares, Cumberland and Kennesaw.

The transaction marks Carroll's sixth major multifamily purchase in Atlanta and its eighth major acquisition in Georgia. American Property Holdings provided the Carroll with a $9.5 million investment of equity.  

“Bexley is one of the best located assets in Cobb County, an area with exceptional economic growth, a great school system, and a high quality of life,” says M. Patrick Carroll, founder and CEO of Carroll. “The property benefits from its proximity to a number of employment centers and with our hands-on management we are confident it will further maximize the value of this already great asset.”

Built in 1988, the multifamily property is located off of Cobb Parkway and sits on 41 acres. As Carroll mentioned, Bexley Apartments is near the area's top employers and major corporate headquarters, as well as retail opportunities. The area's economic anchors include the Cobb Galleria, Lockheed Martin, Home Depot's Corporate Call Center, Life University and Southern Poly Tech.

The multifamily community offers one- two- and three bedroom units with private patios and vaulted ceilings on the top floors. Luxury multifamily amenities include two swimming pools, a fitness center, an athletic complex with baseball and soccer fields, a running track, a clubhouse with Wi-Fi access, three picnic areas with grills, two tennis courts, a car care facility, and a number of walking trails and paths.

Carroll plans to improve the resident experience through hands-on management and capital investments. The company is also rebranding the property “ARIUM 41” in line with the brand identity and values of its growing national portfolio.

In addition to Bexley Apartments, Carroll has acquired more than $900 million in multifamily properties located throughout Texas, Florida, Georgia, and Tennessee over the first 10 months of 2013.  The company sourced many of its deals “off-market” directly from developers, and is recognized within the brokerage community as a go-to buyer that performs.