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California  + Finance  | 

Mill Creek Fund’s Six-State Modera Portfolio Refi’d for $364M

CBRE Capital Markets’ debt and structured finance team arranged $363.7 million for the refinancing of The Modera Portfolio. Comprised of six newly-constructed multifamily properties, the assets total 1,529 units and are located in six states.

CBRE’s Jesse Weber and Andrew Behrens secured the five-year, interest-only, floating-rate loan on behalf of Mill Creek Fund I, a joint venture between New York-based Rockwood Capital, LLC and Dallas-based Mill Creek Residential Trust. The loan was originated by Morgan Stanley with a syndicate including NY Life and Met Life.

The properties included:

  • Modera Glendale, 235 units at 610 North Central Ave. in Glendale, CA
  • Modera Lofts, 366 units at 350 Warren St. in Jersey City, NJ
  • Modera Douglas Station, 262 units at 3760 Bird Rd. in Miami
  • Modera Mosaic (pictured), 251 units at 2920 District Ave. in Merrifield, VA
  • Modera Natick Center, 150 units at 82 North Main St. in Natick, MA
  • Modera Flats, 265 units at 1755 Wyndale St. in Houston

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Financing
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