Private equity firm KKR has acquired a portfolio of 5,200 apartment units from Quarterra, the multifamily arm of Lennar, for $2.1 billion. The deal includes high-rise and mid-rise developments in coastal and Sun Belt markets. KKR's rationale for the purchase is the slowing new supply, which is expected to maintain high rents.
$KKR buys 5,200 apartments to jack up rents on single mothers across the country: The investment firm acquired a portfolio of 18 multifamily real estate assets on Tuesday from a closed end fund sponsored by developer Quarterra Multifamily for about $2.1 billion. The portfolio…
Apartments Are Worth Buying, Judging from KKR’s $2 Billion Deal With Lennar https://t.co/MJAfGPDt5N
KKR Makes $2.1B Apartment Buy https://t.co/Qy5td0uSw5
KKR’s $2.1 billion deal to buy 5,200 apartment units from Lennar has brought out X’s conspiracy theorists. Private equity! Higher rents! Bubble prices! Let’s look at a few of them and weigh the merits. 👇
KKR has bought a sprawling apartment portfolio across the United States from Quarterra, the multifamily arm of homebuilder Lennar, for $2.1 billion, including a mix of high-rise and mid-rise developments in coastal and Sun Belt markets. https://t.co/xEPkfu3dlG
Massive private equity firm KKR is buying thousands of apartments. Their logic? New supply is slowing which will help them keep rents high. https://t.co/WnRLqCzm52
Private equity giant KKR deemed the time right to buy multifamily, snapping up a portfolio for $2.1 billion. https://t.co/Orz1c5Dcwe