BTR Daily - June 10, 2026 - New Mountain Capital acquires Asset Living for over $2B

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NEWS ROUNDUP

M&A: New Mountain Capital acquires Asset Living in deal valued over $2 billion. New Mountain Capital has agreed to acquire Asset Living, a major residential property management company, in a transaction valued at more than $2 billion. The deal includes Asset Living’s real estate portfolio and proprietary technology platform, with CEO Ryan McGrath remaining involved in the business through a partnership structure with New Mountain. Roark Capital, Asset Living’s current owner, had been exploring a sale process with advisory support from William Blair.

DEVELOPMENT: Bridge Tower breaks ground on 179-unit BTR. Bridge Tower has broken ground on The Enclave at Fate Village, a 179-unit BTR townhome community in Fate, Texas. The community will include two- and three-bedroom townhomes ranging from approximately 1,350 to 1,650 square feet, with planned amenities including a swimming pool, fitness center, green space, and outdoor gathering areas. Bridge Tower representatives joined city officials and Rockwall Area Chamber of Commerce representatives for a ribbon cutting and groundbreaking in late March. The first homes are expected to be available for occupancy in Q1 2027.

FINANCING: Madison Capital Group arranges $21.2 million financing for Detroit SFR portfolio. Madison Capital Group has arranged $21.2 million in permanent senior debt financing for a 266-home single-family rental portfolio across metro Detroit. The portfolio is owned and operated by Detroit Renaissance Funds, with Madison Capital also serving as an equity investor. The properties include renovated single-family homes and duplex/multiplex residences, primarily made up of three- and four-bedroom units. A significant portion of the homes are supported by Section 8 programs, and the portfolio is currently more than 96% occupied.

PEOPLE MOVES: JCCG promotes Cole Todd to VP of Production. Jim Chapman Construction Group has promoted Cole Todd to Vice President of Production and created a new Production division to support operational consistency and growth across its BTR portfolio. Chris Mancuso, President of JCCG, highlighted Todd’s role in improving execution across field teams, trade partners, and leadership.

READ: BTR research shows Midwest markets pulling away.

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