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Milhaus and SRG Residential complete merger to build multifamily platform
The combined group has $2.5B of total investment activity, manages more than 50,000 apartments, and plans eight development projects totaling over 2,000 units this year.
Milhaus and SRG Residential have completed their merger, creating a national multifamily platform focused on developing, owning, and managing apartment communities across more than 20 markets, according to a Bisnow release.
The newly combined platform, based on Indianapolis and Newport Beach leadership, brings $2.5B in total investment activity and more than 50,000 apartments under third-party management. SRG Residential’s portfolio includes properties in Long Beach, Irvine, Woodland Hills, and Ontario, California.
The companies also plan to begin eight development projects this year, targeting more than 2,000 units. Milhaus further announced it will acquire Los Angeles-based Broadshore Capital Partners, an investment management and lending platform intended to expand its capabilities in those areas.
Leadership changes include Chris Payne moving from CEO of SRG Residential to chief development officer at Milhaus, while Jeff Bailey will continue to lead the combined property management group. Broadshore Capital Partners CEO Brad Howe is set to become Milhaus chief investment officer upon a closing expected later this summer, Bisnow reported.