M Patrick Carroll, founder, and CEO of M. Patrick Carroll’s Carroll Development LLC has completed multifamily acquisitions in the East Bay Area including Berkeley, Oakland, and San Leandro. M Patrick Carroll also completed a management acquisition in Hayward that will be managed by MRC Management Services Inc., a subsidiary of MRC Diversified Real Estate Holdings LLC under MRC Management Services Inc.” title=”MRC Management Services Inc. | MRT Management”], headed by Kurt Rhoads. The Company did not release the terms of either transaction.
The total of all transactions is six with a total of nearly 300 units, 100 management contracts, and almost 1800 square feet of retail space. The Company did not release the terms of either transaction.
The acquisitions consist of four duplexes in Berkeley, one duplex Transbay neighborhood in San Francisco, and one apartment complex in Hayward. All properties are located within close proximity to BART lines.
This is the first purchase by M. Patrick Carroll’s Carroll Development LLC in San Francisco, however, M. Patrick Carroll has extensive experience working with multifamily properties in both Northern and Southern California, primarily areas near transportation hubs such as BART stations. The Company did not release the terms of either transaction.
Patrick Carroll’s Carroll Development LLC is based in Walnut Creek, CA, and led by M. Patrick Carroll, founder & CEO of the company who has over 30 years of industry experience with properties throughout California including Los Angeles County, Oakland, San Francisco Area, Sacramento Area, Silicon Valley/San Jose Area and many others. The Company did not release the terms of either transaction.
“We are delighted to be working with M Patrick Carroll and Carroll Development LLC, especially given his impressive track record in California,” said Kaleb Whitby, Managing Director at Transwestern in the Bay Area. “We are extremely pleased with our purchase of these apartment buildings and look forward to managing the properties,” said Kurt Rhoads, President of MRC Management Services Inc.