Troutman Pepper represented Quarterra Multifamily, a premier multifamily real estate development and operating company, in its sale of a portfolio of 18 multifamily assets to KKR, a leading global investment firm, for approximately $2.1 billion. Read KKR’s press release about the transaction.

The recently built, Class A portfolio consists of over 5,200 units concentrated primarily in growing coastal and sunbelt markets including California, Washington, Florida, Texas, Georgia and North Carolina, Colorado, and New Jersey. The portfolio is a mix of mid-rise and high-rise buildings featuring convenient access to urban, metropolitan areas, high-quality construction, modern amenities and excellent energy, water, and waste efficiency.

Quarterra Group, Inc. is a multi-strategy, real estate focused, alternative asset management company. Launched in 2011, Quarterra Multifamily, previously known as LMC, is among the nation’s most active developers, builders, and managers and has been on the National Multi-Housing Council’s annual Top 50 list for nine consecutive years.

The Troutman Pepper team advising Quarterra Multifamily in the portfolio sale to KKR includes Partners Walter Fisher and Graham Miller (real estate) and Partners Paul Steffens and Brett Hubler (corporate), among many others.