Lennar Corp. and TPG Real Estate have announced that TPG has acquired a majority interest in Quarterra, a developer of high-quality multifamily communities that combines institutional scale with local market expertise to deliver rental offerings in high-growth markets. Lennar has retained a minority stake in the platform and continues to provide differentiated insights and synergies to Quarterra.
TPG has made an additional $1 billion strategic commitment in connection with the acquisition and expects to raise additional capital to fund future growth and the development of Quarterra’s multifamily pipeline, with a focus on Emblem communities — a signature strategy dedicated to the development of attainable, high-quality rental housing options nationwide. TPG and Lennar will work alongside Quarterra management to take the established platform to its next stage of growth while addressing the urgent need for accessible, attainable housing across the United States.
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