Daily market intelligence on mortgages, equity raising, investment sales, and CMBS.

Monday, 03 December 2018

Carroll Organization, PGIM Partner on More Apartment Buys

Carroll Organization has completed another batch of acquisitions in partnership with PGIM Real Estate, bringing the volume of its investments with the investment manager to $2 billion. Carroll, an Atlanta apartment specialist funded the latest investment - valued at $600 million - with capital raised through a fund last year. It's now looking at launching a follow-up fund.

Commercial Real Estate Direct Staff Report

Carroll Organization has completed another batch of acquisitions in partnership with PGIM Real Estate, bringing the volume of its deals with the investment manager to $2 billion.

The latest investments - valued at $600 million - were comprised of three portfolios totaling 13 properties with 4,043 units in the Raleigh-Durham, N.C., area, Ponte Vedra Beach, Fla., and Charleston, S.C. Since the end of last year, Carroll has partnered with PGIM on the purchase of 45 properties with 15,000 units in Florida, the Carolinas, Tennessee and Texas.

Carroll partners with other institutional investors as well.

Like with most of its previous investments, Carroll capitalized its stake in the latest batch through its Carroll Multifamily Real Estate Fund V LP, a $40 million vehicle that it had raised last year. The company initially had targeted raising $75 million for the fund, but decided to complete its capital-raising efforts when it had its first close last December.

That fund was the first for which Carroll had raised capital from...


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Data Digest







Top Bookrunners Domestic, Private-Label CMBS - 2017
Investment Bank #Deals Vol$mln MktShr%
Goldman Sachs 17.59 11,819.34 13.68
JPMorgan Securities 14.52 10,968.11 12.70
Citigroup 12.04 10,012.71 11.59
Wells Fargo Securities 14.02 9,936.06 11.50
Deutsche Bank 12.55 9,879.74 11.44




cppichart FP



CMBS 2.0 Spreads


Top CMBS Loan Contributors - 2017
Lender #Loans Vol$mln MktShr%
Goldman Sachs 146.89 11,719.34 13.63
JPMorgan Chase Bank 117.68 10,114.14 11.76
Deutsche Bank 198.48 9,689.97 11.27
Morgan Stanley 166.18 8,539.78 9.93
Citigroup 199.05 8,088.24 9.41





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