Private Equity Firm KKR Acquires 18 Multifamily Properties for $2.1 Billion

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The New York City-based private-equity firm KKR (NYSE: KKR) has acquired a portfolio of 18 multifamily properties across multiple states for $2.1 billion.

The Wall Street Journal reported the acquisition encompasses more than 5,200 apartment units in newly built mid- and high-rise complexes. KKR acquired the property from Quarterra Multifamily, a subsidiary of the home builder Lennar (NYSE:LEN).

KKR’s acquisition is the latest major transaction involving deep-pocketed investors scooping up apartment properties. Last month, Brookfield Corporation’s (NYSE:BN) Brookfield Properties acquired a 7,000-apartment portfolio for $1.55 billion while Blackstone (NYSE:BX) acquired Apartment Income REIT (NYSE:AIRC) for $10 billion.