Milhaus, SRG Residential Form $2.5B Multifamily Powerhouse

Expansion Moves Reshape Multifamily Platform

Milhaus announced its merger with SRG Residential, a Sares Regis Group subsidiary, forming a national multifamily platform with significant scale, Multifamily Dive reports. The deal creates a $2.5B development pipeline and expands Milhaus’s management capabilities to more than 50,000 units, increasing its presence across more than 20 US markets. The Indianapolis-based firm will also acquire Broadshore Capital Partners, a Los Angeles investment manager known for its 30-year legacy in multifamily equity and debt, with that transaction expected to close later this summer.

The milestone comes as Milhaus pursues an ambitious growth trajectory, following its 2025 acquisition of Contravest, a Florida-based property management firm. According to Milhaus CEO Tadd Miller, the combined force positions the company for 3,500 new development starts annually and aims to hit 100,000 units under management within two years.

Integrating East and West: Platform Synergy

The merger is transforming Milhaus’s traditionally Midwest- and East Coast-focused operation into a coast-to-coast player. By absorbing Newport Beach-based SRG Residential, Milhaus boosts its third-party property management portfolio by over 190 properties and 46,000 units, strengthening footholds in Southern California, Denver, and Phoenix. The integration of Broadshore Capital Partners adds institutional-grade investment and lending expertise, offering direct access to capital through relationships with pension funds, insurers, and global investors.

Leadership from both SRG and Broadshore will remain with the combined company, with SRG Residential CEO Chris Payne joining as chief development officer and Broadshore CEO Brad Howe taking on the role of chief investment officer. While the official names remain unchanged for now, the merged platform will operate corporate offices in six major US cities.

Third-Party Management Gets a Boost

SRG Residential’s strength in third-party management marks a strategic evolution for Milhaus, which had historically focused on managing its own portfolio. According to the latest National Multifamily Housing Council Top 50 list, SRG managed 43,527 units (ranked No. 43). The merger propels the combined entity’s managed units past 50,000, which would place it among the top 40 operators nationwide alongside firms like Pegasus Residential. For Milhaus, this opens access to joint venture deals across markets like California, Colorado, and Texas that were previously out of reach. At the same time, SRG’s partners gain exposure to Milhaus’s deep roots with Midwestern development groups and a rapidly growing national footprint.

Why It Matters

For the multifamily sector, the Milhaus–SRG merger underscores a trend toward consolidation as firms seek scale, diversification, and operational efficiency amid persistent development headwinds. By uniting two regionally strong firms, the merger offers immediate geographic diversification and operational synergies—Milhaus gains a robust third-party management business, while SRG’s fee platform now benefits from Milhaus’s development pipeline and capital markets reach. According to CEO Tadd Miller, Milhaus expects this combination to double its annual development starts, while also supporting a push into third-party management, long requested by the firm’s institutional investors.

The acquisition of Broadshore Capital Partners could prove particularly consequential. By bringing a 30-year investment management track record and deep institutional relationships in-house, Milhaus accelerates its timeline for becoming a major player in US multifamily lending and acquisitions. The move also reflects how large real estate platforms are increasingly pairing scale with expanded capital access to fuel growth.

As institutional capital searches for trusted, vertically integrated operators, platforms with both scale and debt and equity execution capabilities stand to capture an outsize share of new deals. The combined Milhaus-SRG-Broadshore entity is positioned to become a formidable allocator and operator across the US multifamily landscape, offering both direct investment and third-party management options.

What’s Next

Milhaus plans to initiate eight new projects totaling over 2,000 units in 2026, more than doubling its prior development pace. Once the Broadshore Capital Partners acquisition closes later this summer, the company will offer institutional partners direct access to multifamily investment and lending strategies nationwide. Leadership expects the combined enterprise to reach 100,000 units under management by 2028 and to pursue further expansion in both development and property management. With offices now spanning key markets from New York to Los Angeles, Milhaus is set to compete with national players in the rapidly evolving US multifamily sector.