Millrose Properties
Miami, FL 11–50 employees 3 principals
Last updated by kathlene
About Millrose Properties
Millrose Properties is a real estate operator headquartered in Miami, FL.
Millrose Properties is a residential land banking and real estate investment platform that was established as an independent public company in February 2025 through the spin-off of land assets from Lennar Corporation. The company focuses on acquiring land, funding horizontal development, and structuring homesite option purchase arrangements for homebuilders. At launch, Millrose received approximately $5.5 billion in land assets and $1.0 billion in cash, resulting in an equity book value of about $5.8 billion. The company is externally managed by Kennedy Lewis, an alternative investment firm with more than $25 billion in assets under management. Millrose operates as a land solutions provider rather than a traditional vertical developer. Its portfolio supports residential community development across major U.S. housing markets, with a focus on land acquisition, entitlement, infrastructure installation, and homesite delivery to builders. By late 2025, the company held roughly 130,000 approved residential lots and approximately $8 billion in assets, primarily tied to single-family housing development in states such as California, Texas, and Florida. Millrose is structured as a REIT and is expanding its platform to serve multiple national and regional homebuilders beyond Lennar.
Principals at Millrose Properties
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