Millrose Properties to Provide Permanent Capital Solution to JPI for Multifamily Housing Development
Millrose Properties announced the closing of the first acquisition in a new land banking facility established with JPI and Kennedy Lewis Investment Management (KLIM), the parent of Millrose's external manager, to fund Class A multifamily land acquisition and development.
Why it matters — This marks Millrose's entry into providing a permanent capital solution for multifamily housing development, expanding its homesite option platform beyond single-family homebuilders into a new segment.