{"id":133767,"date":"2023-07-31T13:39:11","date_gmt":"2023-07-31T13:39:11","guid":{"rendered":"https:\/\/fin2me.com\/?p=133767"},"modified":"2023-07-31T13:39:11","modified_gmt":"2023-07-31T13:39:11","slug":"rmr-group-to-buy-carroll-multifamily-platform-in-80-mln-cash-deal","status":"publish","type":"post","link":"https:\/\/fin2me.com\/industries\/rmr-group-to-buy-carroll-multifamily-platform-in-80-mln-cash-deal\/","title":{"rendered":"RMR Group To Buy CARROLL Multifamily Platform In $80 Mln Cash Deal"},"content":{"rendered":"

RMR Group (RMR) Monday said it has entered into a definitive agreement to buy MPC Partnership Holdings, LLC, doing business<\/span> as CARROLL Multifamily Platform, for $80 million in cash.<\/p>\n

The consideration for the acquisition of the Atlanta, Georgia -based vertically integrated multifamily platform is subject to customary purchase price adjustments.<\/p>\n

The deal also includes the potential for incremental earnout consideration up to $20 million based on the deployment of future capital.<\/p>\n

The deal is expected to be immediately accretive to adjusted EBITDA, adjusted earnings per share and distributable earnings per share.<\/p>\n

The acquisition was unanimously approved by RMR’s Board of Directors, and is expected to close in the fall of 2023, subject to customary conditions.<\/p>\n

CARROLL, with approximately 700 employees, provides asset and property management services to 81 multifamily properties with more than 28,000 units.<\/p>\n

With the acquisition, RMR expects to enter the only major commercial real estate sector in which it does not have a significant presence.<\/p>\n

The transaction further advances RMR’s strategic focus on growing its private capital business, adding around $7 billion in assets under management and over 20 institutional partner relationships.<\/p>\n

The transaction is expected to be funded entirely with cash on hand.<\/p>\n

In the first full year of operations post closing, RMR expects the CARROLL platform to generate more than $35 million in recurring fees and around $11 million to $13 million of Adjusted EBITDA, including $5 million to $6 million of synergies.<\/p>\n

Post transaction, the company also expects to have no debt and around $200 million of cash on hand for further opportunistic growth strategies. <\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

RMR Group (RMR) Monday said it has entered into a definitive agreement to buy MPC Partnership Holdings, LLC, doing business as CARROLL Multifamily Platform, for […]<\/p>\n","protected":false},"author":3,"featured_media":133766,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"yoast_head":"\nRMR Group To Buy CARROLL Multifamily Platform In $80 Mln Cash Deal - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/industries\/rmr-group-to-buy-carroll-multifamily-platform-in-80-mln-cash-deal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RMR Group To Buy CARROLL Multifamily Platform In $80 Mln Cash Deal - Fin2me\" \/>\n<meta property=\"og:description\" content=\"RMR Group (RMR) Monday said it has entered into a definitive agreement to buy MPC Partnership Holdings, LLC, doing business as CARROLL Multifamily Platform, for [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/industries\/rmr-group-to-buy-carroll-multifamily-platform-in-80-mln-cash-deal\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-31T13:39:11+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2023\/07\/RMR-Group-To-Buy-CARROLL-Multifamily-Platform-In-80-Mln-Cash-Deal-.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/industries\/rmr-group-to-buy-carroll-multifamily-platform-in-80-mln-cash-deal\/\",\"url\":\"https:\/\/fin2me.com\/industries\/rmr-group-to-buy-carroll-multifamily-platform-in-80-mln-cash-deal\/\",\"name\":\"RMR Group To Buy CARROLL Multifamily Platform In $80 Mln Cash Deal - 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