Mill Green Capital Begins Partnership With Prosper Multifamily
Mill Green Capital has begun the new year with a new partnership: 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. Greg Fox and Brian Grasso have remained in their present positions of chief executive officer and chief financial officer, respectively. Fox is remaining the majority owner and manager of Mill Green Capital, and Sherman and Coleman are continuing to be principals of Prosper.
“We are excited to announce the addition of Jeff and Stuart to our company,” said Greg Fox, chief executive officer of Mill Green Capital, or MGC. “Their addition significantly enhances the depth of our investment process and asset management capabilities.
Mill Green Capital and its predecessor, Mill Green Partners, collectively referred to herein as Mill Green, are the sponsor of the Mill Green Opportunity Fund series that primarily focuses on investing in Class A multifamily developments projects in the Southeastern and Mid-Atlantic United States with a “select group of development partners.”
Mill Green Partners has sponsored eight funds that raised approximately $440 million and invested in 37 multifamily projects. Mill Green Opportunity Fund VIII launched in April 2022 and raised $170 million.
“In addition, we now have a formal succession plan in place. I worked closely with Jeff in his former role as president of multifamily for Preferred Apartment Communities Inc. for eight years,” said Fox. “In that capacity, he worked directly with the group of developers that [Mill Green Capital] does business with and was involved in PAC’s placement of mezzanine or preferred equity financing in the same deals Mill Green invested in as an equity provider. As a result, I expect the integration of Jeff and Stuart into MGC’s business to be very smooth and seamless.”
Sherman added: “Stuart and I have known Greg for many years, and we have always respected and admired the business he built. We are honored to join the MGC team and look forward to once again working alongside Greg and Brian to build upon the excellent track record and trusted reputation MGC has established.”
Mill Green recently celebrated its 10th anniversary as a company and has raised over $500 million in capital.
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