New Mountain Capital has acquired Asset Living, a prominent third-party property management firm, for $2.0 billion. This transaction marks a significant corporate acquisition in the real estate services sector. Asset Living, founded in 1986, has established itself as a trusted partner in fostering thriving communities nationwide, growing organically from a small firm to a leading ally in real estate management.
Asset Living's extensive portfolio spans a diverse range of property types across the United States. Its operations encompass multifamily, single-family home rentals, affordable housing, build-to-rent, active adult, and student housing divisions. The company emphasizes delivering exceptional value to its partners through its decades of experience and a team known for driving innovation and results for clients and communities.
The acquisition by New Mountain Capital is a strategic move to invest in a rapidly expanding segment of the real estate market. Asset Living's proven track record of organic growth, broad operational expertise across various housing sectors, and its commitment to innovation present a compelling opportunity. This acquisition is expected to leverage New Mountain Capital's resources to further accelerate Asset Living's expansion and enhance its service offerings, creating synergies through increased operational scale and market reach.
This corporate acquisition underscores a belief in the continued growth and resilience of the property management industry. The combined entity is poised to capitalize on Asset Living's established market presence and operational excellence, supported by New Mountain Capital's strategic backing, to further solidify its leadership position and drive future success in the evolving real estate landscape.