The RMR Group has agreed to acquire 100 percent of the equity interests in MPC Partnership Holdings LLC, doing business as Carroll, a multifamily platform, in an all-cash transaction for $80 million.

Carroll provides asset and property management services to 81 multifamily properties with more than 28,000 units, primarily located across the sunbelt markets of the U.S. The deal presents an opportunity for RMR to enter the only major commercial real estate sector in which RMR does not have a significant presence. Carroll also brings technology infrastructure and digital marketing capabilities that may be leveraged across the RMR platform. The deal further advances RMR’s focus on growing its private capital business, adding approximately $7 billion in assets under management and over 20 institutional partner relationships.

“This acquisition will advance RMR’s private capital growth strategy with high-quality global institutional investors and drive continued growth across the combined platform with the potential to make in excess of $3 billion of additional multifamily investments,” says Adam Portnoy, president and CEO of the RMR Group.

The CenterCap Group LLC is serving as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal advisor to RMR on this transaction. UBS is acting as financial advisor and King & Spalding LLP is acting as legal advisor to Carroll.