Millrose Properties, Inc. engages in the real estate industry. It operates a homesite option purchase platform that delivers finished homesites to homebuilders. The company was formerly known as Millrose, Inc. and changed its name to Millrose Properties, Inc. in March 2024.
- Based in Chevy Chase, Maryland.
- Spinoff from Lennar Corporation (NYSE: LEN)
- Real estate investment trust (REIT)
- https://millroseproperties.com/
Millrose purchases and develops residential land and sells finished homesites back to Lennar and potentially other homebuilders by way of option contracts with predetermined costs and takedown schedules. While Lennar is currently Millrose's only customer, Millrose anticipates that its "first of its kind" public vehicle will be attractive to other homebuilders seeking to implement an asset-light strategy and believes that becoming a capital source for other homebuilders will provide for accretive growth to the Millrose platform.
