Key facts
- Milhaus and SRG Residential have merged to form a national multifamily platform.
- The combined entity has $2.5 billion in total investment activity and manages over 50,000 apartments.
- The merged company plans to launch eight development projects with over 2,000 units this year.
- Milhaus will acquire Broadshore Capital Partners to expand investment management and lending capabilities.
- Key leadership changes include Chris Payne as chief development officer and Brad Howe as chief investment officer.
Milhaus and SRG Residential have completed a merger, establishing a national multifamily platform with significant investment activity and management capacity. The combined entity, which will operate across more than 20 markets, boasts $2.5 billion in total investment activity and oversees more than 50,000 apartments under third-party management.
In conjunction with the merger, Milhaus announced plans to acquire Broadshore Capital Partners, an investment management and lending firm. This acquisition is expected to enhance Milhaus' capabilities in these specific areas. The company is also set to commence eight development projects this year, collectively comprising over 2,000 units.
Following the merger, key leadership roles have been established. Chris Payne, formerly CEO of SRG Residential, has been appointed chief development officer at Milhaus. Jeff Bailey, who previously served as president of property management at SRG Residential, will continue to lead the combined property management operations. Brad Howe, CEO of Broadshore Capital Partners, is slated to become Milhaus' chief investment officer once the acquisition is finalized, anticipated later this summer.
The merged Milhaus platform will maintain corporate offices in Indianapolis, New York, Phoenix, Los Angeles, Orlando, Florida, and Newport Beach, California. The real estate sector has seen a surge in mergers and acquisitions during the spring, with financing remaining available despite geopolitical market disruptions. Observers anticipate continued activity throughout the remainder of the year.