Waterfall Boosts Millrose Stake, Signaling Land Risk Outsourcing

Waterfall Asset Managements recent acquisition of 219,984 additional shares in Millrose Properties, valued at $6.62 million, signals a significant increase in their investment in this real estate play. This move has elevated Millrose to a 5.09% stake in Waterfalls assets under management, placing it among the top holdings alongside Apartment Income REIT and AvalonBay. Millroses HOPPR platform, which facilitates land options for homebuilders, has been instrumental in their recent success. The companys first-quarter revenue more than doubled to $194.9 million, with net income reaching $122.9 million. Waterfalls confidence in Millroses model could reshape homebuilding efficiency as the sector scales. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/e5e158e0ee42d4fb