Quarterra
Quarterra is a Charlotte-based multifamily development and investment management firm majority-owned by TPG Real Estate (with Lennar as minority owner) that develops Class A/B apartment communities and the Emblem attainable-housing sub-brand across 30 U.S. states, managing $7.1 billion in AUM through 125+ joint ventures with 35+ institutional capital partners.
- Company typePrivate
- Founded2011
- HeadquartersCharlotte, United States
- Headcount501–1,000
- GTM typeB2B
- OfferingServices
What Quarterra does
Quarterra is a multifamily development and investment management firm headquartered in Charlotte, North Carolina, with 12 regional offices spanning 30 states and 501-1,000 employees. Originated in 2011 as Lennar Multifamily Communities (LMC) and rebranded to Quarterra in 2022, the company has developed 39,000 multifamily units across 80+ submarkets in 34 MSAs with $13.8 billion in total development costs. Since January 2026, TPG Real Estate holds a majority interest while Lennar retains a minority stake following a $1 billion strategic capital commitment from TPG.
The company operates two principal product surfaces: (1) conventional Class A/B multifamily communities under named developments (e.g., ARCA, Aldea, Alexandria Crossing), and (2) the Emblem sub-brand, a programmatic attainable housing platform delivering standardized mid-rise and garden-style apartment communities to middle-income renters across multiple U.S. metros. Quarterra also manages the Upward America Single Family Rental platform, comprising 4,000+ build-to-rent homes operated through a joint venture with Centerbridge Partners and Invitation Homes (which provides property management). Development execution is handled internally through regional development teams supported by dedicated product development, construction oversight, and asset management functions.
Revenue is generated through three primary streams: development fees from joint ventures with institutional capital partners, asset management fees on $7.1 billion of multifamily assets under management, and fund management fees on the SFR portfolio. To date, the company has executed 125+ joint ventures with 35+ global institutional capital partners, raised $5 billion+ in equity, and sourced $13 billion+ in debt across 40+ lender relationships. Customer segments split across enterprise/B2B (institutional investors and lenders as capital partners) and B2C (renters of Emblem and conventional communities), with go-to-market executed via direct institutional sales, regional development teams, and direct-to-consumer leasing.
Quarterra firmographics
Firmographics- Name
- Quarterra
- Legal name
- Quarterra Services, LLC
- Website
- https://quarterra.com
- Company type
- Private
- Founded year
- 2011
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- Quarterra is a Charlotte-based multifamily development and investment management firm majority-owned by TPG Real Estate (with Lennar as minority owner) that develops Class A/B apartment communities and the Emblem attainable-housing sub-brand across 30 U.S. states, managing $7.1 billion in AUM through 125+ joint ventures with 35+ institutional capital partners.
- Ownership category
- akta.pro rank
Quarterra industry classification
Industry- Product category
- Multifamily Real Estate Development
- NAICS
- Lessors of Residential Buildings and Dwellings (531110), Real Estate and Rental and Leasing (53)
- SIC
- Real Estate (6500), General Bldg Contractors - Residential Bldgs (1520)
- akta.pro primary industry
- Multifamily Apartment Property Management (BPAJAFAA)
Keywords
Where Quarterra is headquartered
LocationHeadquarters
- HQ city
- Charlotte
- HQ country
- United States
- HQ region
- North America
Offices12 records
Markets served
Quarterra business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Supply Chain, Marketing or Sales, Infrastructure
Revenue model
- Development Fees: Quarterra earns development fees from ground-up multifamily construction projects, typically structured through joint ventures with institutional capital partners.
- Asset Management: The company generates ongoing asset management fees from its $7.1 billion multifamily AUM and manages assets from development through stabilization and eventual disposition.
- Single Family Rental Fund Management: Quarterra manages SFR funds including the Upward America Single Family Rental program, providing asset management and fund management services for build-to-rent single-family home portfolios.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
Quarterra product offering
Product offeringCore offering
Quarterra is a multifamily development and investment management firm that develops, constructs, and manages apartment communities through joint ventures with institutional capital partners. The company operates an Emblem sub-brand for attainable housing targeting middle-income renters and also manages single-family rental funds through its Upward America platform.
Product overview
Quarterra is a multifamily development and investment management firm offering a portfolio of apartment communities across the United States. The company's product portfolio consists of its Emblem sub-brand (attainable housing platform targeting middle-income renters) and various named luxury and conventional apartment communities. Emblem communities deliver quality housing with consistent high-end finishes at lower price points through an expedited development process. In addition to Emblem, Quarterra develops conventional luxury apartment communities such as ARCA, Aldea, and Alexandria Crossing. The company operates 12 regional offices across 30 states and manages approximately $7.1 billion in assets under management.
Differentiator
Problem solved
Functional benefit
Brands
- Emblem: Quarterra's attainable housing production platform delivering quality apartment homes with consistent high-end finishes and amenity designs at a lower price point within an expedited timeframe. Targets middle-income renters.
Products and services
- Emblem
Quantifiable outcome
- 43,000+ rental residences delivered since 2011
- +4 more outcomes
Companies that use Quarterra
Customer profileNamed customers4 records
Segments4 records
Ideal customer profiles4 records
Quarterra technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Quarterra partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- QuadReal Property GroupminorCanadian firm QuadReal Property Group acquired 1,400 apartment units in four U.S. locations from Quarterra's parent Lennar. Properties were located in Denver, Charlotte, Tempe, and Annapolis. QuadReal plans to oversee operations and leasing.
Scale indicators17 records
Recent moves8 records
Expansion highlights6 records
Quarterra competitors and assessment
Company assessmentDirect peers
- Greystar Real Estate Partners: The largest U.S. multifamily developer, operator, and investment manager with massive AUM and a national footprint across development, property management, and investment management — directly comparable to Quarterra across development pipeline, JV institutional capital, and operating platform scale.
- Wood Partners: National multifamily developer with deep institutional JV relationships and a multi-market development pipeline; directly comparable to Quarterra's development-led business model and institutional capital partner base.
- Mill Creek Residential: National multifamily developer with institutional JV relationships and a focus on Class A apartment communities across multiple U.S. markets; directly comparable to Quarterra's development-led model.
- Alliance Residential Company: National multifamily developer, owner, and operator with broad geographic reach; directly comparable to Quarterra's development pipeline and institutional partnership model.
- Trammell Crow Residential: CBRE-affiliated national multifamily developer with a broad development pipeline and institutional capital partner base; directly comparable as a large-scale multifamily developer and investment manager.
- Gables Residential: Multifamily development and operating company with national presence across multiple U.S. markets; comparable to Quarterra's combination of development, ownership, and management capabilities.
- Bainbridge Companies: Multifamily development and management company with a strong Sunbelt focus; directly comparable to Quarterra's footprint and institutional JV-driven development model.
- JPI (Junction Private Investments): National multifamily developer focused on Class A apartment communities across major U.S. markets; comparable to Quarterra in development pipeline construction and institutional JV-driven model.
Broad incumbents
- Invitation Homes: Largest U.S. single-family rental operator and an active Quarterra JV partner in the Upward America SFR platform; broadly comparable through its build-to-rent investment activity and institutional SFR scale.
Emerging players
- RangeWater Real Estate: Sunbelt-focused multifamily developer and operator with institutional capital backing; partially comparable to Quarterra's Sunbelt concentration and development-plus-management model.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Quarterra social profiles
Digital presenceQuarterra compliance and trust
Trust signalCompliance2 records
Quarterra financial estimates
Financial estimateRevenue estimate
Valuation estimate
Quarterra leadership team
Management profileNumber of profiles
Profiles7 records
Quarterra funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Quarterra M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Quarterra
What does Quarterra do?
Quarterra is a multifamily development and investment management firm that develops, constructs, and manages apartment communities through joint ventures with institutional capital partners. The company operates an Emblem sub-brand for attainable housing targeting middle-income renters and also manages single-family rental funds through its Upward America platform.
Is Quarterra a public or private company?
Quarterra is a private company. It is classified as private equity controlled and is currently operating.
When was Quarterra founded?
Quarterra was founded in 2011. It employs 501 to 1,000 people.
Where is Quarterra based?
Quarterra is headquartered in Charlotte, United States, in the North America region.
How does Quarterra make money?
Three revenue lines are on record. Development Fees are the primary driver. The others are asset Management and single Family Rental Fund Management.
Who are Quarterra's main competitors?
Direct peers on record are Greystar Real Estate Partners, Wood Partners, Mill Creek Residential, Alliance Residential Company, Trammell Crow Residential, Gables Residential, Bainbridge Companies and JPI (Junction Private Investments). Invitation Homes is listed as a broad incumbent. RangeWater Real Estate is listed as an emerging player.
Does Quarterra have an API?
No public API is recorded for Quarterra.
What industry is Quarterra in?
Quarterra's product category is Multifamily Real Estate Development. Its primary akta.pro industry code is BPAJAFAA, Multifamily Apartment Property Management. Its NAICS code is 531110 and its SIC code is 6500.