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Carroll purchases Highlands Ranch, Colo., apartment community

Real estate investment firm Carroll Organization acquired a 222-unit apartment community in Highlands Ranch, Colo., from Starwood Capital Group, Multi-Housing News reported.

The 16-building property, which has been renamed ARIUM at Highlands Ranch, sits on a 13-acre site at 3380 E. County Line Rd. It is about 96% occupied at deal closing. The transaction was subject to a $41.2 million acquisition loan, according to the report.

JLL brokered the property exclusively on behalf of Starwood and secured the 10-year floating-rate financing through Freddie Mac on behalf of Carroll. Jones Lang LaSalle Multifamily will service the loan, the report noted.