The real estate platform Alfred announced that its property management arm RKW Residential has merged with Quarterra Living, the multifamily property management business of the real estate investment firm Quarterra, a wholly owned subsidiary of Lennar Corporation (NYSE: LEN and LEN.B).
According to the company, the combined platform will manage approximately 52,000 residences nationwide, representing over $20 billion of assets, positioning it as one of the largest US residential real estate property managers. Brad Greiwe, CEO of Quarterra, will join the Alfred board of directors while Quarterra Living’s leadership team will continue in their roles.
The financial aspects of the deal were not announced. Alfred stated the newly merged company will introduce an updated brand and platform advancements over the next year while exploring strategic opportunities for expansion.
“For a decade we’ve shown that superior returns and an outstanding resident experience can and should go hand in hand,” said Jessica Beck, CEO and co-founder of Alfred, who will lead the combined entity. “This merger creates the scale and capabilities needed to deliver on that promise at the next level. We’re not just growing in size; we’re strengthening our position to build a new operating model for residential real estate – one that meets the evolving needs of today’s owners and residents.”
