Mill Creek Buys 417-Unit Denver Asset

The six-story community came online last year.

Modera Art Park

Modera Art Park. Image courtesy of Yardi Matrix

Mill Creek Residential has acquired Modera Art Park, a 416-unit multifamily community in Denver. The property was last owned by Carmel Partners, according to Yardi Matrix data. In 2020, the asset became subject to a $97 million construction loan provided by Massachusetts Mutual Life Insurance Co., the same data provider shows.

Completed in 2022, the six-story community comprises studio, one- and two-bedroom layouts, along with penthouses, ranging from 496 to 1,389 square feet. All apartments feature in-unit washers and dryers, with select units incorporating private balconies or patios. Common-area amenities include a swimming pool, spa, pet spa, coworking lounge and gaming room.

Located at 3299 Brighton Blvd. within the River North Art District, the community is close to Interstate 25 and some 2 miles from Denver’s Central Business District. Numerous dining, retail and entertainment options are within walking distance of the property. The site is also adjacent to the RiNo Art Park.

Last month, Mill Creek broke ground on another Denver community. Upon its foreseen completion in 2025, Modera University Park will yield a total of 234 units and will aim to achieve National Green Building Standard Gold certification.

You May Also Like