Mid-America Apartment Communities has acquired Modera Liberty Row from Mill Creek Residential in a transaction totaling $116.3 million, translating to nearly $500,000 per unit. The multifamily community, developed by Mill Creek in partnership with Hawthorne Residential Partners, comprises 239 apartments across two buildings at 7740 and 7741 Liberty Row Drive. Following the sale, the property has been rebranded as MAA Liberty Row.
The two-building community delivers a full-service amenity package aimed at renters seeking a highly programmed residential environment. Shared amenities include a swimming pool and a fitness center with a dedicated yoga studio, as well as multiple clubrooms designed for resident gatherings and events. Elevated courtyards provide additional outdoor spaces, and a golf simulator lounge offers an entertainment-focused recreational option.
Residents also have access to bocce ball courts and an array of work-focused amenities, including coworking spaces and private offices intended to support remote and hybrid work patterns. A pet spa and bike storage facilities round out the offering, reflecting an emphasis on both pet-friendly living and alternative transportation or recreational cycling.
According to reporting by the Charlotte Business Observer, the project had originally been slated for delivery in spring 2024 before a massive fire in May 2023 destroyed the nearly completed development. The building that caught fire was demolished down to the concrete slab, while workers removed the wood framing from the second building due to severe charring along the elevations exposed to the blaze.
Reconstruction of the community began in January 2024, effectively restarting the final phase of development on a site that had already seen substantial progress before the fire. After the rebuild effort advanced, residents started moving into the property last summer, marking the transition from construction and recovery to stabilized lease-up and ongoing operations under the MAA Liberty Row name.
The acquisition of the rebuilt community from its original developer and development partner underscores the completion of a complex development cycle that included initial construction, fire-related loss, demolition, reconstruction, and ultimate stabilization in the rental market. With the transaction now closed, Mid-America Apartment Communities assumes control of a newly delivered asset that reflects both recent construction standards and a robust suite of resident amenities.
