Mill Creek Residential, a leading multifamily investor and operator specializing in premier apartment communities across the U.S., today announced the grand opening of Modera Edgewater, a luxury apartment community located in Miami’s vibrant Edgewater neighborhood.
The eight-story community, which features 297 apartment homes and was built in conjunction with partner Rockwood Capital, is situated just north of Downtown Miami and steps from Biscayne Bay. The centralized location provides near-direct access to the Miami Design District, Midtown Miami, the eclectic Wynwood arts district and several other nearby attractions.
“As Edgewater continues to become one of the most sought-after neighborhoods in Miami, apartment demand has followed suit,” said Jeff Meran, senior managing director for Mill Creek. “We’re excited to open our doors and welcome our first residents to Modera Edgewater, which we believe will set the bar for upscale living in the area. The stunning views and deluxe amenity spaces, combined with the proximity to the water and multitude of nearby attractions, create a dynamic combination.”
Situated at 455 NE 24th Street, Modera Edgewater is within 100 yards of the Biscayne Bay shoreline and features superb views of Downtown Miami and South Beach. A variety of dining, shopping and entertainment options surround the neighborhood, which is within a short drive of many of the city’s key employment centers. That includes the Miami Health District, which possesses the country’s second largest concentration of medical and research facilities, and the Miami/Brickell Financial District, which is often referred to as “Wall Street South.”
The community is located in a highly walkable location with pedestrian access to many of the area’s hot spots. Numerous public transportation options are accessible from the community, including the Miami Trolley. Nearby recreation options include Margaret Pace Park and Bayfront Park. Residents are also within close proximity of Bayside Marketplace (two miles south) and Marlins Park, which is just over three miles southwest of the community.
Modera Edgewater offers studio, one-, two- and three-bedroom homes with den and penthouse layouts available. The pet-friendly community offers a host of upscale amenities, including a 24-hour club-quality fitness studio with personal training and fitness classes, rooftop pool deck and summer kitchen with bay views, 24-hour on-demand package delivery, virtual reality gaming room and an expansive clubhouse. Residents also have access to a steam room and sauna, controlled-access garage parking, and a business center with conference rooms, computer stations, an internet lounge and WiFi.
Apartment interiors are delivered with quartz countertops, Energy Star® stainless steel appliances, 9-foot ceilings, custom cabinetry with under-cabinet lighting, tile surrounds, upgraded fixtures, in-home washers and dryers, Nest thermostats and other smart-home features. Select homes include large pass-through closets, built-in storage/shelving, additional undercounter fridge, 10-foot ceilings and private patios or balconies.
Including Modera Edgewater, Mill Creek has developed six communities in Miami. Others include Modera Douglas Station, Modera Metro Dadeland and Modera Riverhouse.
About Mill Creek Residential
Mill Creek Residential Trust LLC is a national multifamily company focused on the development, acquisition and operation of apartment communities in targeted markets nationwide. The company proactively pursues development, acquisition and construction opportunities through its seasoned team of real estate professionals in 16 offices across the United States. Mill Creek is building its portfolio in many of the nation’s most desirable apartment markets in Seattle, Portland, the San Francisco Bay area, Southern California, Denver, Dallas, Austin, Houston, South Florida, Tampa, Orlando, Atlanta, Nashville, Charlotte, Raleigh, Washington, D.C., New Jersey, New York, and Boston. As of June 30, 2019, the company’s portfolio comprises of 75 communities representing over 19,800 apartment homes that are operating and/or under construction.
About Rockwood Capital
Rockwood Capital, LLC (Rockwood) is a real estate investment management firm founded in 1995 that provides equity capital combined with real estate operating expertise for the repositioning, recapitalization, development and redevelopment of residential, office, research and development, retail and hotel space in key markets throughout the United States. Rockwood and its principals have invested on behalf of their clients approximately $30.1 billion of real estate through commingled funds and separate accounts. Rockwood is a 73-person organization with offices in New York, NY, San Francisco, CA, and Los Angeles, CA that manages a portfolio of approximately $3.9 billion of net equity value in approximately $7.8 billion of gross real estate value as of 3/31/2019. Rockwood’s investors include sovereign wealth funds, public and private pension funds, endowments, foundations, insurance companies, funds of funds, high net worth individuals and family offices.
