Millrose Properties to Raise Up to $1 Billion for Homesite Acquisitions

Millrose Properties announced plans to raise up to $1 billion through a two-part senior notes offering, which will be a private offering. The company plans to issue $500 million of senior notes due 2029 and $500 million of senior notes due 2031. The capital raise is intended to fund the acquisition of homesites from the combined Dream Finders Homes–Beazer Homes entity and to repay its revolving credit facility, which stood at $850 million as of September 21, 2026.

The capital raise is structured to provide up to $1.5 billion in incremental capital to deploy. The company stated that the bond sale will be exempt from registration under the Securities Act of 1933 and will be marketed only to qualified institutional buyers under Rule 144A and certain non-U.S. investors under Regulation S.