Milhaus Valuation, Funding & Investors

Milhaus is valued at $1.2B as of October 2017.

Last Milhaus valuation

$1.2B

Undisclosed stage · Oct 2017

Last Milhaus funding round

$245M

Undisclosed stage · Oct 2017

Cumulative funding Milhaus raised

$245M

across 1 funding round

Key investors in Milhaus

  • FrontRange Capital Partners
  • StepStone Real Estate

Milhaus Overview

About Milhaus

Milhaus is an Indianapolis-headquartered real estate developer founded in 2009 specializing in mixed-use and multifamily projects. The firm manages investment, development, and property operations to enhance urban neighborhoods across the Midwest.


Founded

2009

HQ

United StatesIndianapolis, IN

Status

Privately held

Customer focus

B2C

Revenue model

Product sales

Valuation

$1.2B (Oct 2017)

Milhaus Valuation

Milhaus is currently valued at $1.2B, based on its undisclosed-stage round in October 2017.

The $245M round included StepStone Real Estate and FrontRange Capital Partners.

Milhaus valuation by funding round

Milhaus valuation by funding round
DateStageValuation
Oct 2017Undisclosed stage$1.2B

Milhaus Funding History

Milhaus has raised a total of $245M across 1 funding round.

Milhaus funding rounds

Milhaus funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Oct 2017Undisclosed stageStepStone Real Estate; FrontRange Capital Partners$245M$1.2BMilhaus is an Indianapolis-based real estate developer specializing in hard-to-assemble, urban infill and suburban multifamily residential buildings. The company focuses on Class A mixed-use developments and property management across secondary markets in the Midwest and Southeast, with projects including Artistry in Indianapolis, Lift in Oklahoma City, and Highland Row in Memphis. In October 2017, Milhaus secured $245 million in equity capital from FrontRange Capital Partners (a Denver-based real estate private equity firm led by David Robertson and Lance Graber) and StepStone Group Real Estate LP, along with internal investors. The funding valued Milhaus at $1.2 billion post-money. At the time of the investment, the company had developed over 3,800 units and managed over 7,400 units, with a portfolio value expected to reach $689 million with nearly 2,800 units. The capital infusion was intended to support the company's goal of owning 20,000 units across 10 markets by 2020 and to enable long-term ownership and control of its assets. StepStone Group, which managed approximately $120 billion in private capital allocations with $32 billion in assets under management, partnered with Milhaus to form joint ventures for the acquisition and development of multifamily properties.

Who has invested in Milhaus?

2 investors have backed Milhaus across its funding rounds, including FrontRange Capital Partners and StepStone Real Estate.


Milhaus Investors

Investors in Milhaus by funding rounds participated
InvestorHQRoundsRoleFirst check

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Acquisitions by Milhaus

Milhaus has acquired 2 companies to date.

Last acquisition by Milhaus was on July 13th 2026. Milhaus acquired SRG Residential for undisclosed valuation.


Latest Acquisitions by Milhaus

SRG Residential
Broadshore Capital Partners
Description
SRG Residential is a property services provider offering operational support and key performance indicators to assist with managing residential communities.
Broadshore Capital Partners is a Greenwich-headquartered real estate investment manager deploying strategies in multifamily, industrial, and hospitality assets nationwide. The firm acquires value-add properties in Sun Belt markets like Atlanta and Phoenix. Broadshore executes ground-up developments and opportunistic repositionings, leveraging $2 billion in AUM. Its advisory services include joint ventures with pension funds for core-plus portfolios.
HQ CountryUnited StatesUnited States
HQ City
Lakewood, NJ
Los Angeles, CA
Deal Date13 Jul 202613 Jul 2026
Valuationundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Milhaus Competitors

Milhaus competitors include listed companies like Vistry Group, Develia, Azorim and GemLife, and private ones like Shanghai Taomao and Tidhar.

Public and private companies comparable to Milhaus
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Vistry GroupUnited KingdomUnited KingdomPublicly listed$4.9B$431M$1.2B0.3x
DeveliaPolandPolandPublicly listed$549M$146M$1.2B1.8x
AzorimIsraelIsraelPublicly listed$620M$162M$1.2B-
GemLifeAustraliaAustraliaPublicly listed$200M$56M$1.2B6.1x
Shanghai TaomaoChinaChinaPrivate--$1.3B-
TidharIsraelRa'ananaPrivate--$1.1B-

Milhaus Public Comps

Milhaus is still privately-owned, but its public comps include Vistry Group, Develia, Azorim, GemLife, Bangun Kosambi Sukses, Retal, Lamda Development, Dar Global, Aedas Homes and United Real Estate Company (URC).

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Vistry Group$4.9B$431M0.3x0.3x3.5x3.3x
Develia$549M$146M2.4x1.8x9.0x8.9x
Azorim$620M$162M4.6x-17.7x-
GemLife$200M$56M7.9x6.1x28.0x16.3x
Bangun Kosambi Sukses$141M$73M8.1x-15.7x-
Retal$650M$134M2.5x-12.1x-
Lamda Development$653M$230M4.3x4.0x12.2x29.1x
Dar Global$539M$130M2.5x2.5x10.3x-

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Common questions about Milhaus

When was Milhaus founded?Milhaus was founded in 2009.
Where is Milhaus headquartered?Milhaus is headquartered in Indianapolis, IN, United States.
Is Milhaus publicly listed?No, Milhaus is a private, VC-backed company.
What is Milhaus' valuation?Milhaus was last valued at $1.2B in its undisclosed-stage round in October 2017.
How much funding has Milhaus raised?Milhaus has raised $245M across 1 funding round.
What was Milhaus' last funding round?Milhaus' last funding round was a $245M undisclosed-stage round in October 2017.
Who are Milhaus' investors?Milhaus' investors include StepStone Real Estate and FrontRange Capital Partners.
Which companies are comparable to Milhaus?Companies comparable to Milhaus include Vistry Group, Develia, Azorim, GemLife, Shanghai Taomao and Tidhar.
How many companies has Milhaus acquired?Milhaus has acquired 2 companies, including SRG Residential and Broadshore Capital Partners.

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