The RMR Group has entered into an agreement to acquire CARROLL, a multifamily platform, in an all-cash transaction for $80 million, with potential additional earnout consideration of up to $20 million based on future capital deployment.  

CARROLL provides asset and property management services to 81 multifamily properties with over 28,000 units, primarily in Sunbelt markets. The acquisition allows RMR to enter the multifamily sector and expands its private capital business, adding approximately $7 billion in assets under management and over 20 institutional partner relationships.  

The transaction is expected to be immediately accretive to earnings. “We are excited to announce the strategic acquisition of CARROLL, a leading vertically integrated multifamily housing platform,” said Adam Portnoy, president & chief executive officer of The RMR Group. “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.”