Dear Investors, Employees, Customers and Friends,
I wanted to share with you a recap of our 2019 activity and achievements to highlight what a productive year this has been for CARROLL. It is impossible to thank each employee, resident, partner, lender, supplier and everyone else that helped us achieve these exceptional results. However, please accept my sincere appreciation when I say thank you for all you do.
This year we made strategic acquisitions and recapitalizations based on our view of the need in the marketplace, executed timely dispositions, continued to improve the level of talent of our employees, and established new, strategic capital partnerships.
In summary, CARROLL accomplished the following milestones in 2019:
My sincere thanks go out to everyone that helped us achieve such a successful year. As we look forward to 2020, we remain very bullish on the multifamily asset class as it continues to be the most reliable and compelling commercial sector.
M. Patrick Carroll
CARROLL Founder and Chief Executive Officer
The Investment Management team at CARROLL assesses market conditions, pinpoints opportunity, and executes thoughtful strategies to realize results for our investors.
CARROLL Management Group is the nationally-recognized operations arm of the business responsible for building world-class teams to effectively manage the onsite responsibilities of our portfolio.
The Construction Management team manages value add projects from ideation to design to construction.
ARIUM Living is a consumer brand built on a promise to continuously find ways to make apartment living better for our residents.
NocturnalXD is an affiliate marketing service provided to help drive more efficient and effective marketing for each asset.
ITSSG is an affiliate IT service offered to each of our properties that works to enhance processes both on- and offsite to streamline communication and practices for four Carroll customers: equity partners, employees, prospects, and residents.
CARROLL's People team is focused on creating one of the best companies to work for by hiring and retaining the top talent in each market and cultivating that talent through a culture of learning.
CARROLL's Accounting team focuses on providing consistent and reliable financial analysis and reporting.
CARROLL has seen tremendous growth over the past few years. At the onset, CARROLL's first co-investment fund, CARROLL Co-Invest Fund I, L.P., raised $2.5 million. In the latter half of 2019, CARROLL launched it's sixth investment vehicle, Carroll Multifamily Venture VI, L.P., which raised $125.2 million. This is CARROLL's largest co-investment fund ever, surpassing the $56.5 million commitment in the fifth vehicle. With the launch of Carroll Multifamily Venture VI, L.P., CARROLL is poised to make larger equity commitments and to continue to grow its institutional joint venture investment strategy.