Mill Green Capital, a sponsor of private real estate funds, announced today the final closing of Mill Green Opportunity Fund IX, LLC with total retail investor capital commitments of approximately $147 million, raised through broker-dealers and registered investment advisers. This milestone brings the firm’s cumulative capital raised since 2015 to approximately $590 million across nine funds targeting high-growth housing markets in the Southeastern United States.
Fund IX continues Mill Green’s strategy of investing in Class A multifamily developments and build-to-rent communities in supply-constrained, infill suburban business centers. The fund has already committed capital to eight projects – including four in Atlanta (e.g., the Solis Dresden Village in Brookhaven) and one each in Charlotte, N.C., Naples. Fla., and Orlando plus a build-to-rent development also in Charlotte. All projects are currently under construction.
“We are pleased to have partnered on strong opportunities despite the broader headwinds facing commercial real estate,” said Greg Fox, chief executive officer of Mill Green Capital. “We believe we are emerging from the bottom of the multifamily cycle. Tailwinds such as the growing affordability gap in single-family homeownership, a significant decline in new multifamily starts, and sustained demographic and economic growth across the Southeast support a favorable environment for our strategy over the next several years.”
Mill Green has made 48 investments since inception, working with a select group of regional development partners. The firm has liquidated five funds and 23 projects.
As previously reported by AltsWire, Mill Green Opportunity Fund VIII launched in April 2022 and raised $170 million. Skyway Capital Markets LLC has served as the managing broker-dealer for all Mill Green opportunity funds.
“Mill Green continues to deliver high-quality, institutionally structured offerings that resonate with our network of financial advisors and their clients,” said Rob Woomer, CEO of Skyway Capital Markets. “Their focus on transparency, discipline, and alignment with experienced development partners has been key to building long-term investor confidence and successful outcomes.”
Earlier this year, Mill Green Capital began a partnership with Prosper Multifamily. Founded by Jeff Sherman and Stuart Coleman in 2012, Prosper Multifamily makes preferred equity and mezzanine loan investments in multifamily development projects in the Southeast. With the new collaboration, Sherman became the chief investment officer of Mill Green Capital and Coleman the senior analyst; both were effective Jan. 1, 2025.
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