Carter Funds Sells 16 Multifamily Properties in the Southeast for $394M

by Julia Sanders

TAMPA, FLA. — Tampa-based Carter Funds has sold 16 multifamily properties in the Southeast for a total of $394 million. The company purchased the properties throughout 2019 for $274 million. The buyer was not disclosed.

Carter Funds completed exterior and interior unit renovations to the assets. Exterior renovations included enhancements to community amenities, including the addition of sports courts and gaming areas, updated pool decks, new seating areas and outdoor kitchens. Interior renovations included installing kitchen finishes, new flooring, bathroom remodels and upgraded appliances and lighting.

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