The RMR Group is acquiring MPC Partnership Holdings, doing business as CARROLL, in an all-cash transaction. The deal is expected to close in fall 2023.
CARROLL was founded in 2004 and has over 28,000 units under management across 81 properties and roughly 700 employees.
“I’m incredibly proud of the business my team and I have built over the past nearly 20 years with the support of our investors and partners and I’m thrilled to see CARROLL take the next step under RMR’s ownership,” said Patrick Carroll, Founder & Chief Executive Officer of CARROLL, in a release. “CARROLL’s long track record of success and expertise in the multifamily sector will perfectly complement RMR’s diverse real estate investment management platform.”
The transaction follows RMR’s objectives including diversification, growth and scale, and value creation. The acquisition is scheduled to be discussed during RMR’s third-quarter conference call.
“I believe RMR is the right company to lead the CARROLL team and business through the next phase of growth, while continuing to focus on the core tenets of our business – consistently delivering best-in-class management and generating meaningful value for our partners,” said Carroll.