April 21, 2017 Comments Off on Mill Creek Fund’s Six-State Modera Portfolio Refi’d for $364M Views: 689 California News, Top California

Mill Creek Fund’s Six-State Modera Portfolio Refi’d for $364M

CBRE Capital Markets’ debt and structured finance team arranged $363.7 million for the refinancing of The Modera Portfolio. Comprised of six newly-constructed multifamily properties, the assets total 1,529 units and are located in six states.

CBRE’s Jesse Weber and Andrew Behrens secured the five-year, interest-only, floating-rate loan on behalf of Mill Creek Fund I, a joint venture between New York-based Rockwood Capital, LLC and Dallas-based Mill Creek Residential Trust. The loan was originated by Morgan Stanley with a syndicate including NY Life and Met Life.

The properties included:

  • Modera Glendale, 235 units at 610 North Central Ave. in Glendale, CA
  • Modera Lofts, 366 units at 350 Warren St. in Jersey City, NJ
  • Modera Douglas Station, 262 units at 3760 Bird Rd. in Miami
  • Modera Mosaic (pictured), 251 units at 2920 District Ave. in Merrifield, VA
  • Modera Natick Center, 150 units at 82 North Main St. in Natick, MA
  • Modera Flats, 265 units at 1755 Wyndale St. in Houston

Connect With CBRE’s Weber

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Connect With Rockwood’s David Streicher

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