M Patrick Carroll Turns His Sights to the Bright Lights of Vegas

Over the years Las Vegas has remained one of the top vacation destinations in the world. Along with tourists coming into and out of the city, Vegas is also home to a large population that has been increasing. Clark County, the home county of Las Vegas has seen its population grow by 40,000 people in 2020. All of these factors led real estate investor M Patrick Carroll to look at opportunities in this popular destination.

Because of population growth, Vegas has seen an increase in the demand for multifamily homes. M Patrick Carroll saw this need and his company purchased two properties, Emerald Springs and The Meadows. These two locations are 20 minutes from the world-famous Las Vegas Strip and will offer residents 819 garden-style units. Before families begin to move in, however, both properties will be renovated and various improvements completed.

These properties were bought under the Carroll Multifamily Venture VI, LP portion of the company, and will be rebranded as ARIUM Emerald Springs and ARIUM Meadows. The two acquisitions will be added to the CARROLL portfolio, which already consists of over 28,000 units. CARROLL has a lot of holdings in the Florida area, especially in the Tampa-St. Petersburg metropolitan area.

M Patrick Carroll is currently the CEO and founder of the CARROLL real estate investment firm. Carroll started the company in 2004 and has seen tremendous growth over the years. CARROLL holds over 30,000 commercial and residential properties, along with $5.8 billion in assets. Carroll himself has helped the company remove 88 properties from its portfolio, which resulted in $4.2 billion in sales. Along with running his real estate company, Carroll is also involved in philanthropic causes, such as sitting on the boards of the Jesuit High School Foundation and the Boys and Girls Club of Tampa Bay.

Original source to learn more: https://www.bloomberg.com/profile/person/20048728