Darren Richman Of Millrose Properties Acquires Single Family Rental Portfolio From Stuart Miller For $333M

Millrose Properties acquired a single-family rental portfolio consisting of 1,233 completed homes from Lennar. The total sale price for this transaction was $333,000,000, and it is categorized under the single-family rental asset type in the United States market.

Summary of transaction details:

• Property Type: SFR
• Transaction Amount: $333,000,000
• Buyer: Darren Richman - Millrose Properties
• Seller: Stuart Miller - Lennar
• Funding: $120 million in cash and $213 million in secured financing

The deal involves a pending federal shareholder lawsuit against Millrose Properties, claiming that the company failed to disclose its rental strategy when it went public. Stuart Miller, the seller, controls 43% of Millrose’s voting shares, indicating his significant stake in the transaction.