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Rockwood, Mill Creek Secure $700M for 9-Asset National MF Portfolio
A partnership between Rockwood Capital Corporation and Mill Creek Residential secured a $700 million loan for the refinancing of the Modera Portfolio. The nine-building collection of Class A+ multifamily assets totaling 2,813 units is located across the United States.
The seven-year credit facility is a mix of a sub-four percent fixed rate and floating rate debt. The facility is a refinance of a combination of existing construction and bridge financing loans. The buildings in the Modera Portfolio are in various stages of lease-up and stabilization, and include properties in California, Florida, Massachusetts, New Jersey, Oregon, Texas, Virginia and Washington state.
Andrew Behrens and Jesse Weber of CBRE Capital Markets’ Debt & Structured Finance team in San Francisco represented the partnership.
Weber says, “Our team was able to utilize our vast multifamily financing expertise to underwrite each of these newly-built assets that are in various stages of lease-up, and demonstrate to lenders the benefits of financing this portfolio.”
*Pictured Modera Medford in Medford, MA
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing




