RMR Group has entered into a definitive agreement to acquire 100 percent of the equity interests in vertically integrated multifamily platform Carroll for $80 million. This acquisition provides RMR with an opportunity to enter the only major commercial real estate sector in which it did not have a significant presence, delivering advanced technology infrastructure and digital marketing capabilities that may be leveraged across its platform. The transaction will add approximately $7 billion in assets under management and more than 20 institutional partner relationships, further diversifying and expanding RMR’s reach while augmenting its already considerable scale with differentiated operational expertise within a favored commercial real estate sector.
The deal is subject to customary purchase price adjustments, along with potential incremental earnout consideration up to $20 million tied to future capital deployment. With this acquisition, RMR Group President & CEO Adam Portnoy stated that their AUM now totals over $44 billion – representing an impressive growth milestone for the company.
