SAN FRANCISCO—A “premier residential apartment portfolio” has gotten premier refinancing thanks to a CBRE Capital Markets Debt & Structured Finance team based here, GlobeSt.com has learned. Jesse Weber and Andrew Behrens of CBRE's San Francisco office have arranged $363.7 million in debt for the Modera Portfolio, six newly developed multifamily properties totaling 1,529 units across the US.

Weber and Behrens obtained the five-year, interest-only, floating-rate loan on behalf of Mill Creek Fund I, a joint venture between Rockwood Capital, LLC and Mill Creek Residential Trust. The loan was originated by Morgan Stanley, with a syndicate that included NY Life and MetLife.

David Streicher, partner at Rockwood Capital, says the CBRE team provided “best-in-class execution, working seamlessly with us from marketing through closing to structure an efficient refinancing package allowing us to capitalize on a premier residential apartment portfolio.” The properties in the portfolio are among several that Atlanta-based Mill Creek is developing under the Modera brand.

Modera Glendale is a 235-unit, mid-rise luxury apartment community. It's comprised of a single six-story building that wraps around a resort-style pool, and is located in the City of Glendale, approximately 12 miles north of downtown Los Angeles.

At the other end of the continental US, Modera Lofts in Jersey City is a 366-unit, mid-rise apartment community that was converted from an eight-story industrial building originally built in the early 1900s. The property is located in Jersey City's Powerhouse Arts District, directly across the Hudson River from Lower Manhattan.

In the Coral Gables neighborhood of Miami, there's Modera Douglas Station, a 262-unit, eight-story, LEED Silver, mid-rise apartment community comprised of a single residential building that wraps around a resort-style pool. The complex is located across the street from the Douglas Station Metrorail stop.

Modera Mosaic is a mixed-use development that's home to 251 apartment units in the Mosaic District of Merrifield, VA, 13 miles west of Washington, DC. This is an upscale neighborhood in Fairfax County that offers ample dining, shopping, and entertainment options.

Located about 16 miles west of downtown Boston, Modera Natick Center in Natick, MA is a 150-unit apartment community. It sits on a 6.4-acre site and features a mix of apartments and townhouses.

One of three Modera-=branded developments in the works for the Houston metropolitan area, Modera Flats is a 265-unit apartment community on a 2.4-acre site. It's in one of Houston's best locations, situated within the world-renowned Texas Medical Center comple

Located about 16 miles west of downtown Boston, Modera Natick Center in Natick, MA is a 150-unit apartment community. It sits on a 6.4-acre site and features a mix of apartments and townhouses.

Instant Insights /

Modera Portfolio Lands $364M Refi

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