KKR completes biggest-ever purchase of apartment buildings, WSJ reports

KKR (KKR) has finalized its largest-ever purchase of apartment buildings, having paid $2.1B for more than 5,200 units across the country in an effort to bet on a broad rebound for multifamily housing, the Wall Street Journal’s Will Parker reports. The deal for the multifamily properties, spanning from California and Texas to New Jersey, closed on Tuesday, the author notes. KKR purchased the portfolio from Quarterra, the apartment development business of Lennar (LEN), the author says.