Mill Creek Residential announced it had acquired Modera Newton, a 205-unit mid-rise apartment community located along the Charles River in Newton, Massachusetts approximately nine miles west of downtown Boston. Terms of the acquisition were not disclosed.
The complex is situated at 2-4 Los Angeles Street in Newton, with access to the Charles River Greenway and Forte Park. It’s the latest acquisition in Mill Creek’s Greater Boston portfolio, which also includes assets in Quincy, Framingham, Medford, Natick, Needham, Revere and Marshfield.
“Newton is a great suburb within the broader Boston area with high barriers to entry and strong demographic trends,” said Kel Frazier, president of acquisitions for Mill Creek. “We’re excited to welcome Modera Newton as our latest community addition.”
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 14 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, Washington, D.C., New Jersey, New York and Boston. As of June 30, 2018, the company’s portfolio comprises 74 communities representing over 20,250 apartment homes that are operating and/or under construction.
