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September 15, 2020 Comments (0) Views: 782 Seattle & Pacific Northwest News, Seattle News, Top Seattle

Mill Creek Sells Seattle Apartment Community for $125M

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Mill Creek Residential Trust divested Modera First Hill, a 288-unit multifamily community in Seattle to OZH Holding 4 LLC for $125 million. Situated in heart of Seattle’s First Hill neighborhood at 125 Boren Ave. S., the seven-story development is part of the Yesler Terrace Master Plan area and recently began delivering the first units.

The pet-friendly project was designed with sustainability features and sits above two levels of subterranean parking. Modera First Hill offers studio, one- and two-bedroom apartment homes.

Community amenities include a rooftop deck with barbeques, club-quality fitness center and yoga studio, dog run area, pet grooming station, dining and lounge areas, media room/game lounge, conference room, multiple outdoor courtyard areas and clubroom.

The transaction represents the second-largest multifamily sale to close in the Puget Sound metro so far this year, ranking behind Oxford Properties’ $320 million deal for the 461-unit Kiara community.

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