Millrose Properties enters $1.0B delayed draw term loan facility to finance homesite acquisition

Millrose Properties, Inc.

$1.0B delayed draw term loan facility with Goldman Sachs as admin agent, maturing June 23, 2026.
Acquisition Tranche proceeds will fund purchase of homesites for New Home Company's acquisition of Landsea Homes (closed June 25, 2025).
General Tranche Loans may be used for corporate purposes, including repaying existing revolver.
Interest rate margins tied to leverage ratio: SOFR+2.00% to SOFR+3.25% depending on period and ratio.
Facility secured by pledge of Millrose Holdings promissory note and equity interests.

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