Carroll Org., PGIM Real Estate Acquire 4-Property Portfolio in FL

Carroll Organization and PGIM Real Estate have formed a joint venture to acquire a four-property portfolio in South Florida. Carroll Organization is acting on behalf of its latest investment vehicle, Carroll Multifamily Real Estate Fund V, while PGIM Real Estate is acting on behalf of institutional investors. The seller was Greystar Real Estate Partners, which acquired the properties in 2013 as part of a much larger portfolio of 27 properties. That larger deal totaled $1.5 billion, and Graystar then spent additional funds to renovate the South Florida properties it has now sold.