Mill Creek Announces Grand Opening of Modera Sedici Apartments

Development Community Adds 134 Apartment Homes to Site of Former Italian Embassy

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Dec 18, 2018, 08:30 ET

WASHINGTON, Dec. 18, 2018 /PRNewswire/ -- Mill Creek Residential, a leading multifamily investor and operator specializing in premier apartment communities across the U.S., today announced the grand opening of Modera Sedici, a luxury apartment community located on the venerable grounds of the former Italian Embassy.

The captivating community offers 134 apartment homes, including 22 with distinct customized floor plans in the redeveloped original Italian Embassy building. The additional 112 residences are located in a newly constructed nine-story high-rise that complements and links to the iconic historic structure. Situated along esteemed 16^th Street in the nation's capital, Modera Sedici is built with an enchanting European cosmopolitan aesthetic interior design and features many restored original features.

"Modera Sedici is one of the most unique communities in the nation, and certainly in the Mill Creek portfolio," said Sean Caldwell, senior managing director of the Mid-Atlantic region for Mill Creek Residential. "We worked extensively to preserve the charming qualities and original aesthetic of the Italian Embassy building to cultivate a truly one-of-a-kind living experience in one of the most appealing areas of the city."

Among the historic components in Modera Sedici are restored parquet, a grand piano, original travertine and modern marble. The community also includes the Soggiorno – a grand ballroom with preserved crown moulding and parquet floors, and the Biblioteca – a curated resident lounge with fireplaces and stunning millwork. The original Neo-Renaissance architecture was maintained in the redevelopment of the embassy building, which Grand Central Station architects Whitney Warren and Charles Wetmore originally designed in 1925.

Located at 2700 16^th Street NW, Modera Sedici residents are interconnected to three of the city's most-desirable neighborhoods – Adams Morgan, the U Street Corridor, and Columbia Heights – and their variety of boutique shopping, nightlife and dining options. Residents will also benefit from Modera Sedici's position in a quieter portion of the downtown area.

"While the awe-inspiring beauty of the building is what first stands out, our primary mission remains the same as it always does – to provide an exceptional living experience," said Joe Muffler, managing director of development for Mill Creek Residential. "With its quiet location, elegant interior features and quick accessibility to the city's bustling hot spots, we believe Modera Sedici will set the standard for refined apartment living in the area."

Modera Sedici consists of studio, one-, two- and three-bedroom homes with two-story townhome-style layouts available. Additional community amenities include the Vista – a rooftop terrace with city views; the Palestra – a club-quality fitness center with elite equipment imported from Italy; and the Terraza – a programmed green space with water features, covered seating and grills. The community also includes a historic piazza with public and private seating areas and 24-hour concierge service.

Apartment interiors include several luxurious touches, including upscale GE or Bosch appliance packages that include in-home washers and dryers, Kohler and Moen fixtures, classic-tiled kitchen backsplashes, Kaindl wood plank-style flooring in French Walnut or Orchard Walnut, genuine Italian marble counters in the historic kitchens and baths, elegant recessed lighting and spa-inspired bathrooms with illuminated mirrors, mosaic tile floors, showers, tubs and floating vanities.

The commuter-friendly site provides near-direct access to K Street in downtown, the Capital Beltway and Silver Spring, a thriving business hub on the northern edge of the Metro Area. 16^th Street is one of the city's only north-south thoroughfares and borders Modera Sedici to the east. Fuller Street borders the community to the south and Mozart Street to the west.

Modera Sedici is the seventh development community by Mill Creek in the Washington, D.C. area.

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 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 September 30, 2018, the company's portfolio comprises of 73 communities representing over 19,400 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 $28.4 billion of real estate through ten value-add vehicles and ten separate accounts. Today, Rockwood is a 76 person organization with offices in New York, NY, San Francisco, CA, and Los Angeles, CA that manages a portfolio of approximately $3.4 billion of net equity value in approximately $6.8 billion of gross real estate value as of 6/30/2018. Rockwood's investors include public and private pension funds, endowments, foundations, insurance companies, fund of funds, high net worth individuals and family offices.