TPG Real Estate has acquired a majority stake in Quarterra, partnering with Lennar to expand the supply of high-quality rental housing in the U.S.

Target Information

TPG Real Estate has acquired a majority interest in Quarterra, a prominent developer specializing in high-quality multifamily communities. Quarterra is recognized for its ability to blend institutional scale with localized market expertise to create thoughtfully designed rental options in rapidly growing markets. Even after this acquisition, Lennar Corporation, a leading national homebuilder, retains a minority stake in Quarterra, continuing to provide valuable insights and synergies to the platform.

In addition to acquiring the majority stake, TPG has committed an extra $1 billion to support Quarterra’s growth and to further expand its multifamily pipeline. This commitment will focus on developing Emblem communities, which aim to provide attainable, high-quality rental housing options nationwide. TPG and Lennar will collaborate with Quarterra's management to propel the platform into its next phase of growth while addressing the vital need for accessible housing across the United States.

Industry Overview

The multifamily housing market in the United States has been experiencing significant demand due to a combination of factors, including population growth, urbanization, and changing lifestyle preferences. As more people move to urban