Mill Creek Investment Management Platform expands with $1.2b in equity commitments

Mill Creek Residential has announced the formation of four new investment vehicles to invest in the U.S. residential rental sector.

These vehicles include two separately managed accounts to develop single-family rental communities, an investment partnership to develop multifamily communities, and Mill Creek’s first commingled fund to continue Mill Creek’s value-add acquisitions strategy.

The two separate managed accounts focused on single-family rental development represent newly formed investment programs — one with PCCP and the second with a large global financial institution.

The investment partnership focused on multifamily development represents a follow-on commitment from QuadReal Property Group. The Mill Creek Multifamily Value-Add Fund includes both existing and new clients of Mill Creek.

The three development vehicles have substantial identified pipelines which Mill Creek expects to execute during the next 18 months to 36 months, including