Market Overview

Mill Creek Announces Start of Preleasing at Modera Edgewater

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MIAMI, May 7, 2019 /PRNewswire/ -- Mill Creek Residential, a leading multifamily investor and operator specializing in premier apartment communities across the U.S., along with their partner Rockwood Capital, today announced the start of preleasing at Modera Edgewater, a luxury apartment community located in Miami's emerging Edgewater neighborhood steps from Biscayne Bay.  

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The eight-story community, which features 297 apartment homes, is situated just north of Downtown Miami and boasts a centralized location with easy access to vibrant locales such as the Miami Design District, Midtown Miami and the Wynwood arts district. First move-ins are anticipated for summer 2019.

"The Miami market continues to thrive, and Edgewater has become one of the most attractive neighborhoods within the city," said Jeff Meran, senior managing director for Mill Creek. "We believe the prime location of Modera Edgewater coupled with the community's deluxe finishes and amenities will create a quintessential Miami luxury living experience for our residents."

Located at 455 NE 24th Street, Modera Edgewater is within 100 yards of the shoreline and features stunning views of Downtown Miami and South Beach, which is located across Biscayne Bay. The neighborhood is surrounded by a vast array of dining, shopping and entertainment options and within a short drive of many of the city's primary employment centers, including the Miami/Brickell Financial District and the Health District. The Financial District has been dubbed "Wall Street South" and the Health District contains the country's second largest concentration of medical and research facilities.

The community boasts a Walk Score of 87, signifying a highly walkable location with pedestrian access to many of the area's restaurants, retail and conveniences. Numerous public transportation options are accessible from the community, including the Miami Trolley, and nearby recreation choices include Margaret Pace Park and Bayfront Park. In addition, Bayside Marketplace shopping center is two miles south and Marlins Park just over three miles southwest of the community.

Modera Edgewater consists of studio, one-, two- and three-bedroom homes with den and penthouse layouts available. Amenities at the pet-friendly community include 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 will 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 furnished 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 will 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 15 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, Washington, D.C., New Jersey, New York, and Boston. As of March 31, 2019, the company's portfolio comprises of 74 communities representing over 19,700 apartment homes that are operating and/or under construction. For more information, please visit www.MillCreekPlaces.com.

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 $29.6 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 $3.8 billion of net equity value in approximately $7.4 billion of gross real estate value as of 9/30/2018.  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.

Media Contact
Samantha Chalmers
LinnellTaylor Marketing
(303) 682-5001
samantha@linnelltaylor.com

 

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SOURCE Mill Creek Residential

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