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Global investment firm KKR has acquired a portfolio of 18 multifamily assets from Quarterra, the real estate development arm of homebuilder Lennar. The deal, va

KKR Snags $2.1 Billion Multifamily Portfolio from Quarterra

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Global investment firm KKR has acquired a portfolio of 18 multifamily assets from Quarterra, the real estate development arm of homebuilder Lennar. The deal, valued at roughly $2.1 billion, signifies KKR's confidence in the multifamily housing sector.

Focus on Sun Belt and Coastal Markets:

  • The portfolio consists of Class A multifamily properties, primarily located in high-growth sunbelt and coastal markets like California, Florida, and Texas.
  • These regions are experiencing strong population growth and a demand for quality rental housing.
  • The assets are a mix of high-rise and mid-rise developments, catering to a variety of renters.

KKR's Strategic Move:

  • This acquisition marks KKR's largest investment in the apartment sector to date.
  • The firm views multifamily housing as a resilient asset class, offering stable cash flow and potential for appreciation.
  • KKR plans to leverage its operational expertise to optimize the portfolio's performance.

Management and Financing:

  • KKR will partner with established multifamily operators, Carter-Haston, MG Properties, and Dalan Real Estate, to manage the acquired assets.
  • The investment is being made through capital accounts advised by KKR.

M&A Activity in Real Estate:

The real estate sector is witnessing significant M&A activity. Stay updated on the latest trends and potential investment opportunities using Financial Modeling Prep's (FMP) M&A data and analysis: link to FMP's M&A developer documentation.

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