Lennar will remain a minority stakeholder in the multifamily developer.

TPG Real Estate is now the majority stakeholder of Quarterra, the multifamily development division of Lennar Corporation. Lennar will retain a minority interest in the company that began in 2011.

“For nearly 15 years, we have prided ourselves on building homes and communities where people love to live,” said Brad Greiwe, who will remain CEO of Quarterra, in a release. “With the continued support of Lennar and the business-building experience and investment expertise of our new partners at TPG, we are confident that the Quarterra platform is positioned to deliver on this mission at scale, expanding access to quality housing nationwide.”

Since its inception, Quarterra has delivered more than 43,000 rentals, with roughly 13,000 units still in the pipeline.