Former Burned Out Charlotte Apartments Trade for Nearly $500K/Unit
Mid-America Apartment Communities acquired Modera Liberty Row from Mill Creek Residential for $116.3 million. That works out to nearly $500,000 a unit. Mill Creek developed Modera Liberty Row in partnership with Hawthorne Residential Partners. It has 239 units across two…
Mid-America Apartment Communities acquired Modera Liberty Row from Mill Creek Residential for $116.3 million. That works out to nearly $500,000 a unit. Mill Creek developed Modera Liberty Row in partnership with Hawthorne Residential Partners. It has 239 units across two…
BELLINGS Intelligence Score: 12
Why it matters
This is a routine commercial real estate transaction involving a burned-out apartment complex sold at a notable price per unit, but it does not represent a new financing structure or signal a broader market shift.
Sources
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Former Burned Out Charlotte Apartments Trade for Nearly $500K/Unit
Mid-America Apartment Communities acquired Modera Liberty Row from Mill Creek Residential for $116.3 million. That works out to nearly $500,000 a unit. Mill Creek developed Modera Liberty Row in partnership with Hawthorne Residential Partners. It has 239 units across two…