HOUSTON–Carroll Organization has completed the sale of ARIUM Westheimer and ARIUM Westheimer Villas, both located in Houston. The multifamily properties were originally acquired by Carroll in 2013 with plans to implement a “light value-add renovation plan and streamline management operations.”

“The Westheimer asset sales demonstrate that our vertically integrated platform at Carroll is firing on all cylinders as we start 2015,” M. Patrick Carroll, founder and CEO of Carroll Organization, told GlobeSt.com. "These two successful exits provide great momentum for our firm as we begin 2015. The transactions produced an IRR greater than 50 percent and further enhances our track record of performance with our investors.”

Westheimer and Westheimer Villas were both part of Carroll Co-Invest Fund II LP. The communities were built in 2009 and 2006, featuring stone accents, high-end finishes and extensive amenity packages. The two adjacent communities are located within a block of the southern boundary of Houston's Energy Corridor, which contains more than 18 million square feet of office space, 1.4 million square feet of retail and 1.4 million square feet of industrial.

Carroll continues to be among the most active multifamily owner/operators in the country. In 2014, the company purchased 15 multifamily properties valued at over $615 million and has now exited properties valued over $220 million. The company sources many of its deals "off-market," directly from developers and owners, it says.

“As we look toward the year ahead, we have a great pipeline of attractive investment opportunities and we will continue delivering solid results for investors,” Carroll says.