Milhaus Revenue, Valuation, Funding & Investors

Milhaus is valued at $1.2B as of October 2017, a 29.3x revenue multiple. Milhaus revenue was $41M, as disclosed with its latest round.

Last Milhaus valuation

$1.2B

Undisclosed stage · Oct 2017

Last Milhaus funding round

$245M

Undisclosed stage · Oct 2017

Milhaus revenue

$41M

Undisclosed stage · Oct 2017

Key investors in Milhaus

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

Revenue

$41M (Oct 2017)

Valuation

$1.2B (Oct 2017)

Milhaus Valuation

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

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

Milhaus valuation by funding round

Milhaus valuation by funding round
DateStageValuationRevenue Multiple
Oct 2017Undisclosed stage$1.2B29.3x

Milhaus Revenue

Milhaus' latest recorded revenue is $41M, as of its undisclosed-stage round in October 2017. At a $1.2B valuation, that implies a 29.3x revenue multiple.

Milhaus revenue by funding round

Milhaus revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Oct 2017$41M$1.2B29.3xUndisclosed stage

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

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 Group; 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 StepStone Group and FrontRange Capital Partners.


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 JHSF, Forestar Group, Sri Lotus Developers and TAG Colonia-Immobilien, and private ones like Société pour le logement intermédiaire and Shanghai Taomao.

Public and private companies comparable to Milhaus
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
JHSFBrazilBrazilPublicly listed$634M$483M$1.2B2.7x
Forestar GroupUnited StatesUnited StatesPublicly listed$1.7B$217M$1.2B0.8x
Sri Lotus DevelopersIndiaIndiaPublicly listed$82M$30M$1.2B10.4x
TAG Colonia-ImmobilienGermanyGermanyPublicly listed$1.1B$574M$1.2B-
Société pour le logement intermédiaireFranceParisPrivate--$1.1B-
Shanghai TaomaoChinaChinaPrivate--$1.3B-

Milhaus Public Comps

Milhaus is still privately-owned, but its public comps include JHSF, Forestar Group, Sri Lotus Developers, TAG Colonia-Immobilien, EPIC Suisse, Emaar Misr, Aedas Homes, TLG Immobilien, Solidere and XP Malls FII.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
JHSF$634M$483M2.6x2.7x3.4x5.1x
Forestar Group$1.7B$217M0.8x0.8x6.2x6.9x
Sri Lotus Developers$82M$30M13.6x10.4x36.5x29.5x
TAG Colonia-Immobilien$1.1B$574M4.3x-8.1x-
EPIC Suisse$83M-22.8x21.9x--
Emaar Misr$366M$125M1.5x1.1x4.2x-
Aedas Homes$974M$114M1.6x1.1x13.4x-
TLG Immobilien$161M$20M7.2x-56.7x-

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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 Group and FrontRange Capital Partners.
What is Milhaus' revenue?Milhaus' latest recorded revenue is $41M (October 2017).
What is Milhaus' revenue multiple?Milhaus' latest valuation implies a 29.3x revenue multiple ($1.2B valuation on $41M of revenue).
Which companies are comparable to Milhaus?Companies comparable to Milhaus include JHSF, Forestar Group, Sri Lotus Developers, TAG Colonia-Immobilien, Société pour le logement intermédiaire and Shanghai Taomao.
How many companies has Milhaus acquired?Milhaus has acquired 2 companies, including SRG Residential and Broadshore Capital Partners.

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