Millrose Properties Inc., a newly independent company following its spin-off from Lennar Corporation in February 2025, has announced its financial results for the first quarter ended March 31, 2025. The company reported a significant increase in demand for its Homesite Option Purchase Platform, which has been instrumental in driving its growth. The company has increased its year-end quarterly earnings per share run-rate guidance to a range of $0.69 to $0.71, reflecting strong market demand for its services. Millrose reported total assets of $7.2 billion and liquidity of $1.1 billion, which includes cash and availability under its revolving credit facility. The company's total debt stands at $350 million, with a Debt-to-Capitalization Ratio of approximately 5%. Millrose has secured a $1 billion delayed draw term loan commitment from Goldman Sachs Bank USA and JPMorgan Chase Bank, N.A., further enhancing its capacity to invest and leverage new opportunities. CEO Darren Richman highlighted the company's strengthened capital position and expanded partnerships with other homebuilders, including five separate programmatic partnership commitments. These arrangements provide builders with defined capital availability under pre-negotiated terms, offering greater visibility in land planning.