Mill Creek Residential, an owner-operator and investment manager focused on rental housing, has acquired Modera Newton, a contemporary midrise apartment community located along the Charles River approximately nine miles west of Downtown Boston.
The two-building community, formerly known as Allée on the Charles, features 205 apartments. The property was originally built in 2023, with a second building delivered in 2024; the North Building is built to and is pursuing LEED Silver certification while the South Building is Passive House certified, meeting standards of energy efficiency, comfort and affordability.
The financial terms of the acquisition were not disclosed.
“Newton is a great suburb within the broader Boston area with high barriers to entry and strong demographic trends,” said Kel Frazier, president of acquisitions for Mill Creek Residential. “We’re excited to welcome Modera Newton as our latest community addition.”
Photo courtesy of Zillow
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