RMR Group to acquire multifamily platform CARROLL for $80m

• The CenterCap Group, LLC is serving as financial advisor to RMR on this transaction while UBS Investment Bank is acting as financial advisor to CARROLL
• CARROLL was founded in 2004
• Based in Newton, Massachusetts, RMR is an alternative asset manager focused on commercial real estate

The RMR Group has agreed to acquire CARROLL, an Atlanta-based multifamily platform, for $80 million.

The deal has the potential for incremental earnout consideration up to $20 million based on the deployment of future capital.

On the transaction, Adam Portnoy, president & CEO of The RMR Group, said in a statement, “We are excited to announce the strategic acquisition of CARROLL, a leading vertically integrated multifamily housing platform. 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. Importantly, the CARROLL platform is uniquely positioned to continue benefitting from favorable demographic tailwinds in high-growth Sunbelt markets.”

The transaction is expected to close in the fall of 2023.

The CenterCap Group, LLC is serving as financial advisor to RMR on this transaction while UBS Investment Bank is acting as financial advisor to CARROLL.

CARROLL was founded in 2004.

Based in Newton, Massachusetts, RMR is an alternative asset manager focused on commercial real estate.