Apartment Complex Sold for $70M

Source:  Business Journals

The Modera Miramar apartment complex in Broward County changed hands for $70 million Mill Creek Residential affiliate Red Road Residences sold the 321-unit complex at 11338 S.W. 45th Place to IMT Capital II Miramar LLC, an affiliate of Sherman Oaks, Calif.-based IMT Residential. The community was completed last year. RELATED CONTENT: Miami River apartments sell for more than $75 million Mill Creek acquired the property for $9.8 million in 2011 and used a $37 million mortgage from PNC Bank to ...

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