ATLANTA—Carroll Organization just added anothermultifamily asset to its Florida portfolio. Theacquisition of Gables San Remo in Coral Springs brings the firm'stotal number of major multifamily assets in theSunshine State to 13.

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“Florida has rebounded exceptionally well since the economicdownturn six years ago and is now one of the strongest markets inthe country,” says M. Patrick Carroll, founder andCEO of Carroll. “Gables San Remo provided us witha fantastic investment opportunity, due to itsinstitutional-quality, attractive location and excellent value-addpotential.”

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

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

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Carroll plans to “enhance” the multifamilyresident experience hands-on management and a number of capitalimprovements. The firm is renaming the property “ARIUM San Remo” inline with its brand identity and values of the company's nationalportfolio.

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

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