ATLANTA, GA – Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., announced the start of preleasing at Modera Ancient Ivy, a luxury apartment community located in the thriving Buckhead neighborhood.
The community, which features 394 apartment homes, is encompassed within a midrise and high-rise tower and sits at the corner of Lenox Road and Piedmont Road. Modera Ancient Ivy is part of a wider master development that includes the existing Prominence office building and an Element Marriott. First go-ins are anticipated for early June.
“This area of Buckhead is one of the city’s most well-established commercial districts, and we look forward to adding to our presence in the area,” said Patrick Chesser, senior managing director of development in Atlanta for Mill Creek Residential. “Residents will be within Atlanta’s most prominent retail and financial corridors and will have direct access to an abundance of retail, dining and entertainment options. Modera Ancient Ivy will be a unique product offering in the area, and we’re keen to deliver a top-of-market experience.”
Situated at 3651 Lenox Road, Modera Ancient Ivy is built to a National Green Building Standard Gold certification level and features high-end finishes and a refined suite of amenities. Residents will be positioned in a commuter-friendly locale with the community sitting less than a half-mile from the MARTA rail, 500 feet from a bus stop and a quarter-mile from the Georgia 400 freeway. The prominent job centers in Downtown Atlanta and Sandy Springs are less than 10 minutes away. Additionally, the world-class retail options of Phipps Plaza, Lenox Square and The Shops at Buckhead are all less than a mile from the community.
Modera Ancient Ivy consists of studio, one-, two- and three-bedroom homes with various layouts. Community amenities include a 24-hour club-quality fitness studio, clubhouse, community-wide WiFi, demonstration kitchen, game room, rooftop deck, two pools including one rooftop pool, sauna, steam room, grilling area with outdoor dining, fire pit, coffee bar, library lounge with a reading terrace and landscaped courtyards. Residents will also have access to secured parking in a private garage with reserved parking and electric vehicle charging stations available, controlled guest-access technology, package lockers, dedicated bike storage, resident storage lockers and concierge services.
Apartment interiors include nine-foot ceilings, wood plank-style flooring, private balconies, built-in desks and shelves, quartz countertops, stainless steel appliances, upgraded fixtures, pendant and under-cabinet lighting, tile backsplashes, kitchen islands, walk-in closets, smart thermostats, ceiling fans and in-home washers and dryers. Bathrooms are delivered with tile surrounds and linen closets. Residents will be able to access the homes via key fob and mobile app entry.

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CHARLESTON, SC – CREC Real Estate and Rincon Capital Partners announced they have jointly bought Planters Trace Apartments, a 96-unit, Class B multifamily community located in West Ashley, a thriving neighborhood of Charleston, South Carolina. Terms of the transaction were not told.
With more than $1 billion of real estate assets under management, CREC specializes in multifamily real estate investments in top-performing secondary cities throughout the United States. In addition to Planters Trace, CREC has recently bought multifamily properties in Phoenix, Arizona and Dallas, Texas.
CREC plans to invest $2.8 million in value-add renovations to update common areas, amenities, and unit interiors, bringing the property on par with nearby recently repositioned residential communities.
The 10.6-acre property, built in 1974 and located at 2222 Ashley River Road, has convenient access to nearby jobs, retail and entertainment. The city of Charleston boasts a diversified economy with dynamic job growth and a low unemployment rate (2.9% as of December 2021, according to the Bureau of Labor Statistics). The state is known for business-friendly policies, and the city and region benefit from the vibrant Port of Charleston as well as a diversified economy that includes technology, aerospace, and automotive manufacturing. The West Ashley submarket maintained a 96.6% average occupancy rate throughout the third quarter of 2021, the second highest in the Charleston market, according to RealPage.
“The area around Charleston is seeing a demand for quality apartment housing, and hiring and investment trends point to that need remaining strong for the foreseeable future,” said Aaron Dixon, President of CREC. “CREC sees an vital value-add opportunity at Planters Trace, and we believe that this community has the potential to become a market-leading multifamily option for the growing number of residents in the Charleston area.”
Mr. Dixon added, “CREC continues to focus on value-add acquisition opportunities within cities exhibiting strong demographic and fundamental characteristics, in terms of population growth, employment growth and a diversified employer base. Over the past 18 months, CREC has invested in excess of $200 million of transaction volume with a robust pipeline of future opportunities. Our firm’s investment strategy focuses on enhancements to the marketability of the property through targeted capital improvements, which we believe will be well received by existing and prospective residents.”

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HOUSTON, TX – Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer of mixed-use multifamily communities, announced the acquisition of a Class A, 304-unit multifamily community in Houston, Texas. The community, developed by Wood Partners, LLC, was bought on behalf of CS1031 Houston Apartments, DST, a Delaware statutory trust offering for Section 1031 exchange and other (cash) investors.
“Capital Square sponsors the highest quality, newly constructed Class A apartment communities in the nation for the DST/1031 investment program,” said Louis Rogers, founder and chief executive officer of Capital Square. “CS1031 Houston Apartments is the latest DST offering that sets the highest standards with unrivalled amenities and best-in class quality.”
Located at 3623 W Alabama St., Houston Apartments offers studios, one-, two-, and three-bedroom units with best-in-class finishes. Community amenities include a: resort-style swimming pool with a tanning deck; 24-hour, state-of-the-art fitness center; sky lounge, complete with a kitchen, pinball machine, and outdoor seating with a fireplace; coworking concept spaces; pet spa; courtyard with outdoor living area and fountain; and club area with high-definition televisions, billiards table, lounge seating, and an entertainment kitchen.
Houston Apartments is in the midst of some of the city’s wealthiest neighborhoods. According to CoStar, the average annual household income within a three-mile radius of the property is in excess of $163,000, while the property’s submarket has experienced robust year-over-year rent growth of approximately 9.5% since the beginning of 2021.
The property is within five miles of multiple retailers, restaurants and entertainment venues. It is also within close proximity of Interstates 610 and 69, allowing residents simple access to Greater Houston and the surrounding region.
“Houston Apartments is an amenity-rich, luxury multifamily community located in the midst of one of Houston’s most exclusive neighborhoods where there is strong demand for apartments,” said Whitson Huffman, chief strategy and investment officer. “The property is ideal for affluent professionals who thrive on urban life and the upscale shopping, dining and cultural amenities that are provided in large cities like Houston.”
Home to 24 Fortune 500 companies and NASA’s Johnson Space Center, Houston is a thriving economic center and the unofficial capital of the U.S. oil and natural gas industry. Already the nation’s fourth most populous city, Houston continues to experience rapid growth, with its population swelling by nearly 10% between 2010 and 2020, according to the U.S. Census Bureau.

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