KKR Acquires $2.1 Billion Multifamily Portfolio from Quarterra
Summary
The recently-built, Class A portfolio consists of over 5,200 units concentrated primarily in growing coastal and sunbelt markets including California, Washington, Florida, Texas, Georgia and North Carolina, Colorado and New Jersey. The portfolio is a mix of mid-rise and high-rise buildings featuring convenient access to urban, metropolitan areas, high-quality construction, modern amenities and excellent energy, water and waste efficiency. " Across our platform we are finding opportunities where our scale, strong relationships, multiple pools of capital and local knowledge give us advantages as a buyer of large pools of high-quality, irreplaceable assets.” " Quarterra is known for their high-quality assets and we are thrilled to be working with them on this transaction,” said Daniel Rudin, Managing Director at KKR. This portfolio serves high-growth metropolitan areas across the country, where new supply will slow down significantly looking out beyond the next couple years. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group.