CARROLL, a Georgia-based investment firm, has signed a deal with GFH Financial Group. The $200 million deal was completed in early September 2021. The deal involved the acquisition of two East Las Vegas Multifamily communities, The Meadows and Emerald Springs Complex. In order to match CARROLL’s Arium brand, the collective 819 units from both communities are intended to be renamed Arium Meadows and Arium Emerald Springs.
Third-party analytical organizations have highlighted Las Vegas’ robust potential. One commercial real estate and analytics figure, CoStar, released a report stating Las Vegas holds one of the United States’ highest occupancy percentages at 96.1%. According to the report, 12-month asking rental rates have increased 21.9%. Other population data shows great growth in the East Nevada region. From 2010 to 2020, over 300,000 residents migrated into the area. The populous data was released by the U.S. Census Bureau.
GFH justified the land’s worth and the general strength of the real estate market with key performance indicators, such as 0.6% year-on-year growth. Razi Al Merbati, CEO of GFH Capital, recently shared that approximately $140 billion was invested in 2020 and the average sale prices of single-family homes have increased across the market. Like Bahrain-based GFH, M Patrick Carroll has concluded several United States markets are key investment opportunities. M Patrick Carroll mentioned in recent interviews his intentions to expand, specifically, into states like Colorado, Washington, Oregon, and Arizona.
Founder, M Patrick Carroll’s company manages over 28,000 units to date. Since its establishment in 2004, it has developed, sold, or purchased more than 12 billion in real estate properties across the U.S. Started in his early 20’s, CEO M Patrick Carroll has positioned his company in other hot markets with regional offices in New York, Houston, Tampa, and Raleigh.
Learn more about Patrick: https://www.bloomberg.com/profile/person/20048728