Criterion Development Partners Sells Modera Newton Multifamily In Newton MA For $114M

Modera Newton, a multifamily property located at 2 Los Angeles Street in Newton, MA, was sold for $114,000,000. The asset comprises two buildings featuring a total of 204 units, along with retail space and amenities including a fitness center and golf simulators.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $114,000,000
• Units: 204
• Price Per Unit: $558,824
• Seller: W. Pretlow Riddick - Criterion Development Partners
• Buyer: Mill Creek Residential

W. Pretlow Riddick represented Criterion Development Partners in the transaction, facilitating the sale of the property to Mill Creek Residential, who now owns the Modera Newton multifamily development.