Milhaus Completes Acquisition of Broadshore Capital Partners, Creating 50,000-Unit Coast-to-Coast Multifamily Platform
Milhaus has completed its acquisition of Broadshore Capital Partners, the Indianapolis-based multifamily developer and operator announced September 9, 2026, creating a coast-to-coast platform that combines institutional investment management with development, construction, and property management across more than 50,000 apartment homes.
Jones Lang LaSalle Securities, LLC acted as Milhaus' exclusive financial advisor on the transaction.
Brad Howe Named Chief Investment Officer, Joins as Shareholder
Brad Howe, who spent 20 years leading Broadshore and its predecessor entity as Co-Managing Director, Co-CEO, and CEO, joins Milhaus as Chief Investment Officer and a shareholder alongside principals Russell Munn and James Pomeranz. During his tenure, Howe oversaw more than $7.5 billion invested across approximately 200 transactions.
"Milhaus offers the scale, operational expertise, and fully integrated platform we were looking for in a partner," Howe said. "We have built a strong foundation with more than 35 years of experience managing investor capital, and this combination enables us to accelerate growth, expand our reach, and better serve our institutional investors with a more comprehensive set of capabilities."
Tadd Miller, Chief Executive Officer of Milhaus, said the deal advances the firm's strategy to scale its platform and expand its capabilities. "Broadshore brings deep institutional relationships and a proven investment track record that complements our vertically integrated model," Miller said. "Together, we are better positioned to grow our acquisitions and lending platforms, access new opportunities, and deliver stronger outcomes for our investors."
Broadshore Adds Institutional Capital Access and Lending Capabilities
Broadshore Capital Partners is a Los Angeles and New York-based, SEC-registered investment management and lending platform with more than 35 years of experience in equity and debt investment strategies. Its client base includes large pension funds, insurance companies, and international institutional investors. Broadshore will operate under the Milhaus umbrella following the closing.
The acquisition adds direct access to institutional capital and expands Milhaus' ability to pursue both equity and debt investments on behalf of capital partners. Broadshore has a history of structured lending activity, including stretch-senior and mezzanine loans, and closed a $32.1 million senior multifamily bridge loan in 2026 prior to the acquisition. Its regulatory assets under management stood at approximately $982 million as of mid-2026.
The combined platform enables Milhaus to identify investment opportunities through market presence across more than 20 major U.S. markets, execute business plans with integrated construction and development capabilities, and manage and administer investments at scale. Milhaus said the transaction is expected to accelerate its growth trajectory by five to ten years.
Platform Scale Following Back-to-Back Combinations
The Broadshore acquisition follows Milhaus' merger with Sares Regis Group (SRG) Residential, which closed in spring 2026. That combination brought together more than 30 years of multifamily development, construction, and third-party property management expertise. With both transactions now complete, the combined Milhaus platform manages more than 50,000 apartment homes, supports a development pipeline of more than $2.5 billion, and employs approximately 1,400 professionals.
Corporate offices now span Indianapolis, Newport Beach, California; Los Angeles; New York; Orlando, Florida; and Phoenix, Arizona.
Market Context and Strategic Rationale
The deal comes as national multifamily fundamentals show gradual improvement. National vacancy fell to 4.3% in the second quarter of 2026, net absorption reached 167,500 units, and average monthly rent rose to $2,257, up 0.5% year over year. Rent growth has remained modest as elevated supply continues to weigh on many markets, though new deliveries are beginning to ease — conditions that have historically favored vertically integrated platforms with operating scale and in-house financing capabilities.
Indianapolis, where Milhaus is headquartered, has shown relative stability compared with the national market. Vacancy in the metro has tracked below the national average in 2026, providing a relatively firm base for a platform seeking to pair local operating depth with national institutional capital access.
By combining Broadshore's institutional relationships and investment expertise with Milhaus' development, construction, and property management capabilities, the firm is positioning itself to pursue equity and debt investments with greater speed and flexibility — and to capture more of the capital formation process as acquisition and development activity is expected to pick up when supply normalizes further in 2026 and 2027.
About the Companies
Milhaus is a vertically integrated multifamily developer, owner, and operator specializing in Class A residential assets, headquartered in Indianapolis. Broadshore Capital Partners is an investment management firm focused on asset acquisitions and debt investments with a 35-year track record and deep relationships with institutional investors.
Sources: Milhaus — Milhaus Completes Acquisition of Broadshore Capital Partners