RMR Grows AUM to $44B with Carroll Multifamily Platform Acquisition
The RMR Group has entered into a definitive agreement to acquire 100 percent of the equity interests in vertically integrated multifamily platform Carroll in a cash transaction for $80 million.
The acquisition allows RMR to enter the only major commercial real estate sector in which it did not have a significant presence. It delivers an advanced technology infrastructure plus digital marketing capabilities that may be leveraged across the RMR platform. The transaction will add approximately $7 billion in assets under management and more than 20 institutional partner relationships.
“This transaction will further diversify and expand the reach of RMR, augmenting RMR’s already considerable scale with differentiated operational expertise in a favored commercial real estate sector,” said RMR Group President and CEO Adam Portnoy.
The deal is subject to customary purchase price adjustments, with the potential for incremental earnout consideration up to $20 million tied to the deployment of future capital.
Angela Noote is a native of Northern California and graduated from Chico State with a degree in public relations. After college she moved to the Central Coast and worked first in ad sales then in editorial, eventually spending more than a decade as a print reporter and editor. She detoured into design work at a printer/publisher, and with a partner eventually opened a boutique full-service marketing agency. Moving into corporate communications, she built and managed several successful marketing teams in the hospitality, financial services, and nonprofit industries. Most recently she was an internal comms manager in the tech sector. After a long stint spent in Georgia (Go Dawgs), she moved to Baton Rouge, LA and has written for clients in the financial, luxury imports, higher ed, commercial cleaning, and medical equipment industries. Her son is a media arts major at the University of South Carolina, and her husband owns a comedy theater in Baton Rouge, where you can often find Angi teaching improv classes, leading corporate training events, or doing an occasional stand up set.