ATLANTA—Showing no signs of slowing down, Carroll Organization just snapped up The Manor at Buckhead in joint venture with AIMS Real Estate, a business unit within Goldman Sachs Asset Management. Financial terms of the multifamily deal were not disclosed.

The Manor at Buckhead is a luxury class A 301-unit multifamily community in the Buckhead submarket, which is centered directly between the business district and high-end residential neighborhoods. Average household income in the area is over $115,000—that's twice the national average—and average home value surrounding the property is over $600,000.

“Our primary goals have always been to acquire irreplaceable real estate in markets of greatest demand,” M. Patrick Carroll, founder and CEO of Carroll, tells GlobeSt.com. “If we do this, good things tend to happen from an investment perspective regardless of the cycle. The Manor is the perfect example.”

The Manor promotes a urban live-work-play environment, with walkability and proximity to nearby restaurants, shopping centers, and nightlife attractions. All of these elements are driving renter demand in Buckhead. What's more, the newly-developed Buckhead Atlanta, as well as Phipps Plaza Lenox Square Mall, are just minutes away from the multifamily community.

“The property is located in Atlanta's most desirable neighborhood with access to everything a person could want within a mile or two,” says Carroll. “Atlanta's economic engine continues to bring quality jobs to the area and we are confident this momentum will continue. We've built a great relationship with the team at Goldman Sachs over the years and are looking forward to partnering with them on this investment.”

The multifamily property has 12,000-square-foot clubhouse, parking under each individual building, a fitness center, and resort style swimming pool. According to Carroll, the Manor's floorplans are among the biggest in the submarket. Carroll plans to make improvements to the clubhouse and fitness center and upgrade the interior apartment features including new appliances, granite countertops, and updated lighting and hardware.

“Our portfolio has been growing extensively in the Southeast,” says Carroll. “Atlanta's rental market has experienced tremendous rent and revenue growth over the past two years and we project that momentum to continue. The acquisition of the Manor is a key component to our multifamily investment strategy focused on acquiring the highest quality assets in established markets that show measurable growth over the next several years.”

Indeed, Carroll is one of the most active multifamily owner-operators in the country. This is the second acquisition of 2015 with the combined value of over $110 million. Although the firm focuses heavily on Atlanta, Carroll recently grabbed the  350-unit multifamily community two miles south of Duke University in Durham, NC in a joint venture with W.P. Carey's (WPC) REIT, CPA:18 – Global and Silverpeak Real Estate Partners.