Carroll Purchases Three Multifamily Communities in Metro Atlanta for $220M

SANDY SPRINGS AND MARIETTA, GA. — Carroll Organization has purchased three multifamily communities in metro Atlanta for $220 million. Carroll will rebrand two of the properties, Cascade at Morgan Falls and Fountains at Morgan Falls in Sandy Springs, under the singular name Arium Morgan Falls. The adjacent communities total 1,180 units. Carroll plans to invest $30 million in property upgrades to overhaul exteriors, amenities and unit interiors. The third property is in Marietta, the 418-unit Columns at Bentley Manor, which Carroll will rebrand to Arium on Bentley. Carroll plans to remodel and update the community’s amenities and units. The seller(s) of the three communities was not disclosed.