M Patrick Carroll, the Founder, and CEO of CARROLL, feels that the Orlando real estate market has a lot to offer. The Orlando area experienced a major rebound back in early 2021 leading to rent growth and higher occupancy. M Patrick Carroll claims that Orlando’s dynamic business expands past tourism and benefits from an ever-increasing technology and healthcare sector. He expects the population and employment growth to continue which will keep the apartment industry strong.
CARROLL started off Q3 by purchasing The Avenue apartment homes. The apartment homes, consisting of 522 units, is located in Ocoee, Florida, on 52-acres of land. An enormous lake and waterfront views are available to the tenants. The Avenue is only 10 miles from downtown Orlando.
M Patrick Carroll plans to renovate the inside of the apartments and upgrade the common areas. He also plans to rename the apartments to ARIUM Lakeview. This purchase brings CARROLL’s Orlando real estate portfolio to over 2,500 units. His total unit oversight is now 27,000 units located across seven states.
M Patrick Carroll started his business career working as a clothing representative in the greater Atlanta area. While working in clothing, he always dreamed of working in real estate. Through his uncompromised energy and ambition, he gained a lot of support and assistance from many executives and business owners. He was able to leave the clothing industry and start CARROLL back in 2004.
CARROLL is still privately held and is headquartered in Atlanta, Georgia. Besides investment management, they provide property oversight services and construction management services.