The RMR Group to Acquire CARROLL Multifamily Platform
Transaction Adds Vertically Integrated Multifamily Platform with Approximately $7 Billion in AUM and Over 28,000 Units Across Sun Belt Markets
The RMR Group (Nasdaq: RMR) today announced that it has entered into a definitive agreement to acquire 100% of the equity interests in MPC Partnership Holdings, LLC, doing business as CARROLL (“CARROLL”), a vertically integrated multifamily platform, in an all cash transaction for $80 million, subject to customary purchase price adjustments, with the potential for incremental earnout consideration up to $20 million based on the deployment of future capital.
The acquisition is an attractive opportunity for RMR to enter the only major commercial real estate sector in which RMR does not have a significant presence. CARROLL also brings an advanced technology infrastructure and digital marketing capabilities that may be leveraged across the RMR platform. The transaction further advances RMR’s strategic focus on growing its private capital business, adding approximately $7 billion in assets under management (“AUM”) and over 20 institutional partner relationships.