Mill Creek Announces Acquisition of Modera Newton

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Nov 26, 2024, 07:15 ET

Midrise Community Offers 205 Homes Along the Charles River West of Boston

NEWTON, Mass., Nov. 26, 2024 /PRNewswire/ -- Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., today announced it has acquired Modera Newton, a contemporary midrise apartment community located along the Charles River approximately nine miles west of Downtown Boston.

The community, formerly known as Allée on the Charles, features 205 apartment homes and was originally built in 2023, with a second building delivered in 2024. The community boasts a charming setting featuring immediate access to the Charles River Greenway and picturesque Forte Park. The commuter-friendly location is positioned less than seven miles west of Cambridge and offers direct connectivity to Boston via Interstate 90 (Massachusetts Turnpike).

"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 Residential. "We're excited to welcome Modera Newton as our latest community addition."

Situated at 2-4 Los Angeles Street, Modera Newton is amidst a locale known for its inviting atmosphere and strong emphasis on education and community. Newton features picturesque neighborhoods, high-performing schools and a wide variety of green spaces and recreational outlets. Major employers in the area include Newton-Wellesley Hospital, Boston College, Newton Public Schools and Brandeis University.

Modera Newton, composed of two buildings, offers studio, one-, two- and three-bedroom homes, including select live/work homes. The North Building is built to and is pursuing LEED Silver^® certification, while the South Building is Passive House certified, meeting standards of energy efficiency, comfort and affordability. Community amenities consist of a resort-style swimming pool, outdoor dining and grilling areas, conference room, private workstations, makers/art studio for creative projects, game area with shuffleboard and Ping-Pong, pet spa, indoor dog wash and a club-quality fitness studio with cardio equipment. Residents also have access to digital package lockers, bike room with storage and repair station, covered parking and public EV charging stations.

Home interiors include wood plank-style flooring, oversized windows, stainless steel appliances, quartz countertops, pull-down faucets, tile backsplashes, LED ceiling lighting, two-tone cabinets with black matte finishes, in-home washers and dryers, walk-in closets, programmable thermostats, key fob access, Butterfly MX™ intercom/video system and private patios or balconies. Bathrooms include soaking tubs, ceramic tiles, custom cabinets and wall-mounted LED fixtures above vanities. Select homes include glass showers.

About Mill Creek Residential
Mill Creek Residential Trust LLC is a national rental housing company focused on developing, acquiring, and operating rental communities in targeted markets nationwide. The national company, headquartered in Boca Raton, Florida, proactively develops, acquires, constructs, and operates communities through its seasoned team of real estate professionals in offices across the United States. Mill Creek is building its portfolio in many of the nation's most desirable markets in Seattle, Portland, the San Francisco Bay area, Sacramento, Southern California, Salt Lake City, Phoenix, Denver, Dallas, Austin, Houston, South Florida, Tampa, Orlando, Atlanta, Nashville, Charlotte, Raleigh, Washington, D.C., New Jersey, New York, and Boston. As of September 30, 2024, the company's portfolio comprises 144 communities representing over 41,000 rental homes operating and/or under construction. For more information, please visit www.MillCreekPlaces.com.