NEW YORK – June 5, 2025

The Long Game: Why This Moment Matters

Today, we announced something big. Alfred has officially joined forces with Quarterra’s property management business to create something we believe the industry has never seen before — a national, agile, tech-powered operating company that’s rooted in hospitality, built for institutional performance, and committed to the people who live and work in our buildings every day.

With this transaction, we now manage over 52,000 homes and more than $20B in real estate. But scale alone isn’t the point. What matters is how we show up at scale — and what we do with the responsibility that comes with it.

When we set out, it wasn’t just to build better housing—it was to reimagine what it means to come home. We believed your home should anticipate your needs, not just shelter you. That conviction has guided every step: from assembling extraordinary teams to launching new service models to embedding technology into the grain of daily life.

We now know what was once just theory: you can operate real estate in a way that meaningfully lifts both NOI and resident satisfaction and experience. You can make the job easier for on-site teams—not more complicated. And you can build trust and long-term value in a category that too often defaults to short-term fixes.

We’re now at the forefront of an exciting era of the Super Operator: where execution moves at the speed of software, data flows across every function, and AI becomes a silent partner in every decision. It is a time for innovation that makes the system better for all stakeholders.

This is what the future of housing looks like: measurably better, operationally smarter, and fundamentally more human.

It’s not just better property management. It’s a fundamentally new operating system for real estate.

We are grateful to welcome Quarterra’s team, which has spent the last decade proving that great operations can scale. They’ve built one of the most respected property management platforms in the country, and we’re honored to carry that legacy forward — while building the next version of what’s possible.

The work ahead won’t be easy. Building the future never is. But we’re not here for the short term. We’re in it for the long haul.

If you’re part of this new chapter — as a team member, a client, a resident, or a partner — thank you. And if you’re watching from afar, we hope you’ll keep an eye on what’s coming next.

Thank you to all our partners and team past, present and future.

Jess & Marcela