KKR Acquires $2.1B Multifamily Portfolio from Quarterra

Author

Slice of Real Estate Team
June 28, 2024

Key Highlights:

  • KKR acquires 18 multifamily assets from Quarterra for approximately $2.1 billion.

  • Portfolio includes 5,200+ units in high-growth coastal and sunbelt markets.

  • Properties feature modern amenities, high-quality construction, and excellent efficiency.

  • KKR collaborates with Carter-Haston, MG Properties, and Dalan Real Estate for operations.

  • Transaction advised by Gibson Dunn & Crutcher LLP, Troutman Pepper Hamilton Sanders LLP, and Jones Lang LaSalle.

Source (Business Wire)

Notable Quotes

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"We are pleased to acquire this exceptional, well-located multifamily portfolio from one of the world’s premier developers and owners of residential real estate. We believe this is a great moment to invest in real estate, as transaction activity starts to pick up on the heels of two-years of dislocation in commercial real estate markets."

Justin Pattner, Partner at KKR and Head of Real Estate Equity in the Americas
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"Quarterra is known for their high-quality assets and we are thrilled to be working with them on this transaction. We like the fundamentals in this sector. This portfolio serves high-growth metropolitan areas across the country, where new supply will slow down significantly looking out beyond the next couple years."

Daniel Rudin, Managing Director at KKR

Our Take:

This strategic acquisition by KKR underscores the firm's confidence in the multifamily real estate sector, particularly in high-growth coastal and sunbelt markets. By securing a diverse and modern portfolio, KKR positions itself advantageously in regions poised for sustained demand and limited new supply. The collaboration with established operators like Carter-Haston, MG Properties, and Dalan Real Estate ensures that these assets will be managed to maintain their high standards. As transaction activities resume in the commercial real estate market, KKR's disciplined investment approach and robust network of relationships continue to drive its success and expansion in the real estate domain.