Milhaus, an Indianapolis-based developer of urban infill and select suburban multifamily residential buildings, secured $245m in new capital.
Backers included FrontRange Capital Partners, StepStone Group Real Estate LP and a group of internal investors.
These investments will allow Milhaus to retain ownership and control of assets for the long term, including landmark assets such as Artistry in Indianapolis, Lift in Oklahoma City and Highland Row in Memphis, as well as provide capital to fund future development growth in its real estate portfolio, team and geographic reach. It aims to reach its goal of having 20,000 units in 10 markets by 2020.
Led by Tadd Miller, CEO, Milhaus Milhaus implements complex projects in urban infill and mixed-use environments that are catalyst for neighborhood redevelopment.
The company has developed and built over 3,805 units and manages over 7,445 units of multifamily apartments. It currently has projects in Indianapolis, Milwaukee, Cincinnati, Pittsburgh, Oklahoma City, Louisville, Ky., Memphis, Tenn., Kansas City, Mo., St. Petersburg, Fla. and Tampa, Fla., and manages properties in more cities.