
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.
- ◦Sale/Acquisition