Mill Creek Spins Off Miami Apartments for $73.5M

Mill Creek Spins Off Miami Apartments for $73.5M
News| August 4, 2025| Mike Boyd
Florida & Gulf Coast + Apartment Buildings

Mill Creek Residential and Rockwood Capital sold the Modera Skylar, a 263-square-foot apartment complex at 1444 N.W. 14th Ave. for $73.5 million to a buyer managed by DRA Advisors.

The South Florida Business Journal reports that JLL Real Estate Capital provided a $60.5 million mortgage to the buyer. Totaling 498,269 square feet on a 1.75-acre site, Modera Skylar was developed in two phases. The first 166 units were completed in 2013, and then Mill Creek/Rockwood purchased the building for $47.45 million in 2018. They completed the remaining 97 apartments in 2022.

Amenities in Modera Skylar include a pool deck with grilling stations, a fitness center, a coworking center, an outdoor gym and a dog park.

Units in Modera Skylar range from 401 to 1,480 square feet.

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