Millrose Properties Said It Was Not a Landlord. Then It Allegedly Became One, Quietly, in 51 Counties. Uh Oh.
There is a particular kind of trouble a company gets into when its prospectus makes a promise its business plan later finds inconvenient. Millrose Properties, Inc. may now be the cautionary tale of the industry for 2026. Millrose was spun off from homebuilder Lennar in 2025 as, essentially, a land bank: a REIT built to […]
