M Patrick Carroll Firm invested $200 Million with GFH for Las Vegas $200 Million Acquisition
CARROLL is positioned for success in the Las Vegas market because of its firm’s familiarity with the area. Over his more than 35 years of investment experience, M Patrick Carroll has established a well-documented portfolio of high-quality residential and commercial real estate developments in the city. And now CARROLL is ready to take a more active role in the future growth of the city. Through the formation of the new real estate company, GFH Real Estate Partners, LLC, Carroll is working with the company to capitalize on the strengthening rental market in the Las Vegas market.
Currently, the shortage of rental housing is even direr. Many people are finding it necessary to purchase a home in order to accommodate the added expenses associated with their growing families. With a housing shortage, CARROLL believes that the rental market in Las Vegas will eventually experience an influx of renters, especially in the luxury rental market. By purchasing property in the rental market, Carroll and GFH believe that the duo can take advantage of the expected market recovery and expansion.
By employing its strategy of investing in select real estate opportunities within selected markets, CARROLL has developed a portfolio of properties worth over $1 billion. Its properties include Atlanta, Ga.; Greenville, S.C.; Charlotte, N.C.; Nashville, Tenn.; Raleigh, N.C.; Sacramento, Calif.; Dallas, Tex.; Atlanta, Ga.; and Houston, Tex. M Patrick Carroll’s firm owns and operates over 1,500 residential units and over 200 multifamily units. With GFH’s investment, the company has a significant opportunity to further accelerate its multifamily and residential portfolio.
Carroll has attracted some high-caliber talent to join him on the CARROLL Las Vegas team. For example, Assistant Vice President of Acquisitions Ralph Pena brings decades of experience to the partnership. Pena spent 22 years at Stockbridge Capital Group, where he gained a reputation for strong teamwork. Pena is now working alongside CARROLL Las Vegas General Counsel Chris Perry to help execute the purchase of industrial and retail properties in the Las Vegas market.
The list of improvements made to the investment partnership and its ability to source excellent assets goes on. However, CARROLL’s newest executive appears to be its most significant asset. M Patrick Carroll’s company has quickly assembled one of the most powerful real estate investment teams in the Southeast.