Glendale Apartment Building Sold for $126 Million

Mill Creek Residential, in partnership with investment firm Rockwood Capital, sold Modera Glendale, a 235-unit apartment building located at 600 N. Central Ave. in Glendale, for $126 million or $536,000 per unit.

Mill Creek developed the property in 2015, which features five stories of apartment homes, including fifth-floor penthouses that have second-story mezzanines. The community includes a large resort-like courtyard with a pool and barbecue, plus two smaller attached intimate courtyards. It also has a fitness center, yoga room, multipurpose clubhouse with a gourmet kitchen area and an internet café.

Mill Creek Residential Trust LLC is a national developer and owner of apartments that has deployed more than $19.2 billion in capital since its founding in 2011. It is headquartered in Boca Raton, Fla.

Information for this article was sourced from Mill Creek Residential.