Alfred, Quarterra Merge Multifamily Management Operations
The new entity will oversee operations on roughly 52,000 units.
RKW Residential and Quarterra Living have entered a merger agreement. The two represent the property management arms of Alfred and Quarterra, a subsidiary of Lennar Corp.
Combined, the emerging platform will oversee operations on some 52,000 units across the nation, representing more than $20 billion in assets.
Alfred CEO & Co-Founder Jessica Beck will take the new entity’s reins, while Quarterra CEO Brad Greiwe is on track to join the Board of Directors.
Quarterra Living leadership will retain their roles to ensure operational continuity as the companies integrate their platforms.
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The merger addresses the issue of fragmented technologies through the placement of property operations, resident engagement and asset performance under the same umbrella of AI automation—designed to streamline leasing, maintenance, communications and financial workflows.
A refreshed brand will roll out for the new company over the next year. Additionally, further platform improvements are in the works. The emerging firm will maintain operations across all current markets, but also seek out expansion opportunities.
An expanding property management portfolio
Alfred purchased RKW Residential in 2022 after raising $125 million for the acquisition. RKW provided multifamily and build-to-rent property management to more than 25,000 units as of March. Most recently, it added 925 units to its operations portfolio in Charlotte, N.C.
