ATLANTA—Carroll Organization just added another multifamily asset to its Florida portfolio. The acquisition of Gables San Remo in Coral Springs brings the firm's total number of major multifamily assets in the Sunshine State to 13.

“Florida has rebounded exceptionally well since the economic downturn six years ago and is now one of the strongest markets in the country,” says M. Patrick Carroll, founder and CEO of Carroll. “Gables San Remo provided us with a fantastic investment opportunity, due to its institutional-quality, attractive location and excellent value-add potential.”

Gables San Remo is in heart of Coral Springs. Money Magazine listed Coral Springs as the third best city to live in its 2012 “100 Best Places to Live.”

Gables San Remo was built in 1995. It offers 180 multifamily units with two- and three-bedroom options. Most of the townhomes have direct access garages, which is a unique feature in the for-rent market. The multifamily community features a pool with deck, clubhouse and fitness center, 24-hour electronic-gated entrances, picnic area with BBQ grills, tropical landscaping, valet trash service, tennis courts, and children's playground.

Carroll plans to “enhance” the multifamily resident experience hands-on management and a number of capital improvements. The firm is renaming the property “ARIUM San Remo” in line with its brand identity and values of the company's national portfolio.

In 2013, Carroll acquired over $1 billion in multifamily properties in Texas, Florida, Georgia, and Tennessee. Carroll has already closed over $100 million in multifamily acquisitions in 2014 and reports a “robust” pipeline of investments going into the second quarter.