BEAVERTON, OR – Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., has welcomed its first residents at Modera Beaverton, a mixed-use community located in the heart of Downtown Beaverton.
Modera Beaverton, which features 312 homes and 4,145 square feet of retail space, offers a walkable, bikeable location in one of the most vibrant locales in the western Portland metropolitan area. The wrap-style community is built to, and is pursuing, a LEED Silver certification.
“We’re excited to have opened our doors at Modera Beaverton, which offers residents a small bit of everything,” said Sam Rodriguez, senior managing director of development in Portland for Mill Creek. “In addition to the serene backdrop and small-town charm of Beaverton, residents have quick access to the key employment centers within the city and are within a 20-minute drive of Portland’s Central Business District. We are proud to offer a best-in-class experience within one of the region’s most charismatic downtown areas.”
Situated at 12230 SW Broadway Street, Modera Beaverton possesses a superb Walk Score of 98 and Bike Score of 81. The community is surrounded by a variety of dining options, brewpubs, nightlife opportunities and transit options, including a nearby stop on the MAX Light Rail. Additionally, key north-west thoroughfare Highway 217 is a few blocks west of the community and serves as the gateway to the greater metro area. Residents will be within a quick commute of some of the area’s most notable employers, including Nike World Headquarters, Columbia Sportswear, Tektronix, Intel and Kaiser Health.
Modera Beaverton features studio, one-, two- and three-bedroom homes with various layouts and private patios or balconies. Community amenities consist of a rooftop deck and bar lounge with a covered outdoor terrace, lush landscaped courtyards, expansive clubroom with catering kitchen and fireplace, game room, speakeasy lounge, hotel-inspired lobby with coffee bar, coworking space with private workstations, complimentary high-speed WiFi in common areas, pet spa, club-quality fitness studio with TRX system and spin bikes, yoga studio and multi-sport simulator lounge. The community also offers a bicycle repair station and storage area, additional storage, 24/7 self-serve package lockers, controlled-access parking garage with EV-charging stations and controlled-access guest technology.
Home interiors include quartz countertops, custom cabinetry, under-cabinet lighting, tile backsplashes, ENERGY STAR stainless steel appliances, bedrooms with large closets, wood-style plank flooring, bathrooms with quartz counters and backlit mirrors and oversized windows. Smart features include keyless entry, USB outlets and smart thermostats. Select homes offer bathrooms with pass-through closets and 10-foot ceilings.

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TAMPA, FL – S2 Capital, a national vertically integrated multifamily investment manager, announced the acquisition of Amberly Place, a 1989-vintage, 770-unit, garden-style multifamily apartment community in the Tampa, Florida market. With this transaction, S2 has now bought over 50,000 units since inception in 2012. Terms of the transaction were not told.
The property was bought off-market through a deal arranged by Shelton Granade of commercial real estate brokerage firm Institutional Property Advisors (IPA). IPA’s Harry Krieger helped S2 in securing Freddie Mac financing. S2 bought the asset on behalf of its current value-add fund, S2 Real Estate Fund II, along with two institutional co-investors, including an overseas group based in London.
Michael Bippus, Managing Director of Acquisitions, said, “We are excited to add to our activity in Florida with this terrific asset in a top growth market for us. The equity void for large value-add housing acquisitions has made a unique pricing opportunity for GPs with discretionary capital and deep lending relationships, and we are delighted to buy an asset that fits so squarely in our wheelhouse.”
Amberly Place is located in the Northeast quadrant of the master-plotted Tampa Palms community. S2 will undertake comprehensive interior renovations to bring the property’s original apartments up to the design scope and standards of those units that have already been upgraded. The firm intends to make additional enhancements to interior and exterior amenity spaces and targeted capital improvements to address deferred exterior capex items.
The surrounding area is expected to experience strong projected population growth in the coming years. With high market demand and no new nearby supply expected over the next 24 months, S2 anticipates its proven value-add strategy and operating platform will enable the firm to do on its business plot to reposition the asset and improve operating efficiencies successfully.

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PALM BEACH GARDENS, FL – Vista Residential Partners, a national multifamily development firm, has broken ground on 6.7 acres on Central Boulevard in Palm Beach Gardens, FL for the development of Gardens Vista, a 221-unit, 4-tale luxury apartment community.
The Project is located in the heart of Palm Beach Gardens and benefits from being in close proximity to major throughfares servicing the area (I-95, 0.5 miles away, 149,000 ADT; PGA Blvd, 1.5 miles away). Palm Beach Gardens is a high growth (over 3.3% annually) and affluent submarket ($105K median income) of South Florida and Palm Beach County (Palm Beach Gardens median home sale price $850,000). Additionally, a Publix-anchored shopping center is less than one mile from the Project. Other nearby points of interest include the Gardens Mall, Downtown PBG, PGA Station, Nova Southeastern University and Joseph Russo Athletic Complex (less than one mile from the Project).
The Spanish colonial styled complex will include 131 one-bedroom, 68 two-bedroom, and 22 three-bedroom apartments. Community amenities feature a nature preserve, two pickleball courts, resort style swimming pool, spacious gym, interactive game room, co-working space, 24/7 package concierge, vehicle charging stations, and a dog park. Designed by Niles Bolton Associates, the apartments will include stainless steel appliances, fully tiled backsplashes, wood-like flooring, tiled shower surrounds, and a washer/dryer in each unit.
“We’re excited to launch this vibrant new project as a compliment to the established Palm Beach Gardens community that is in such high demand,” says Beck Daniel, Development Partners for Vista Residential Partners.
Vista has agreed to reserve 10% of its units to comply with the City’s workforce housing requirement. This aligns with Vista’s corporate commitment to provide workforce housing with attainable rents for those who want to live, work, and play in a well-plotted community with modern finishes and desirable amenities.
“Although this development took over 3 years to come to fruition, that fact alone speaks volumes about the very high barriers to entry in Palm Beach Gardens. This is a critical reason we were able to attract sophisticated institutional capital to partner with Vista in this exciting project,” says Eduardo de Guardiola, Chairman – Founder of Vista Residential Partners.

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