The Real Deal Miami

Mill Creek sells Modera Dadeland apartments for $105M

Units sold for an average of nearly $300K

April 02, 2015 02:30PM
By Katherine Kallergis

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Modera Dadeland

Modera Dadeland

AMLI Residential paid $104.5 million for a 350-apartment community in Kendall, The Real Deal has learned.

Mill Creek, which buys, develops and manages apartment communities, sold Modera Dadeland to an AMLI affiliate for an average of nearly $300,000 a unit, according to Miami-Dade County records.

The community is made up of two mid-rise buildings with structured parking, a clubhouse, courtyards and resort-style pool, according to Mill Creek’s website. The complex is located within walking distance of the Dadeland Metrorail station and Dadeland Mall.

Apartments range from studios to two bedrooms, and they range from 430 square feet to more than 1,110 square feet. Rental rates were not disclosed.

Colonnade at Dadeland Owner LLC was the seller. Jeff Meran of Mill Creek Residential signed the deed transfer for the community at 8250 Southwest 72nd Court in Miami. The seller also owns the neighboring Colonnade Dadeland condos, a 570-unit community with similar amenities.