Mill Creek Residential Trust

Name

Mill Creek Residential Trust

Legal name

Mill Creek Residential Trust, LLC

Website

https://millcreekplaces.com

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

1,001–5,000 employees

Ownership category

akta.pro rank

Product category

Multifamily Residential Real Estate

NAICS

Residential Property Managers (531311), New Multifamily Housing Construction (except For-Sale Builders) (236116)

SIC

Operators Of Apartment Buildings (6513), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Multifamily Apartment Property Management (BPAJAFAA)

Keywords

• Multifamily rental housing
• Real estate development
• Property management services
• Build-to-rent communities
• Institutional investment management

Headquarters

HQ city

Boca Raton

HQ country

United States

HQ region

North America

Offices21 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Rental Income: Primary revenue from rental payments collected from residents at owned and managed apartment communities. The company manages over 33,000 homes and operates 112 communities across 29 markets.
2. Investment Management Fees: The Investment Management team, launched in 2019, provides asset management, investment management, and development services through managed accounts, investment funds, joint ventures, and asset management arrangements, generating fee-based revenue.
3. Development and Construction Services: Revenue from development fees, construction management, and development of new communities for institutional investors and joint venture partners.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

Mill Creek Residential Trust is a vertically integrated rental housing company that develops, constructs, acquires, and operates high-quality apartment communities and single-family build-to-rent homes through four branded rental lines (Modera, Amavi, Alister, Beckett). The company also operates an Investment Management platform that raises and deploys programmatic institutional equity into multifamily development, acquisitions, and build-to-rent projects. The platform manages 33,573+ rental homes across 112 operating communities and 29 U.S. markets.

Product overview

Mill Creek Residential Trust operates as a vertically-integrated rental housing platform offering four distinct community brands: Modera (luxury apartments), Amavi (single-family build-to-rent), Alister (attainable housing), and Beckett (energy-focused community living). The company's platform encompasses five interconnected service modules—Investment Management (raising programmatic equity), Development (new construction, historic redevelopment, mixed-use, BTR-SFR), Construction (ranked 2nd largest general contractor by NMHC in 2024), Acquisitions ('buy where we build' strategy), and Property Management (managing over 34,000 homes). The portfolio includes multifamily developments, single-family rental communities, and mixed-use properties across 29 major U.S. markets. Recent product expansions include AI-powered design review tools (LightTable pilot) and significant investments in smart home technology including thermostats, lighting control, and leak detection systems.

Differentiator

Problem solved

Functional benefit

Brands

• Amavi: Single-family rental communities built-to-rent brand offering 2-5 bedroom townhomes for families seeking premium housing.
• Modera
• Alister
• Beckett

Products and services

• Modera Modera is Mill Creek's flagship luxury apartment living brand, offering contemporary apartment homes with extensive amenities, modern design, and a full-service resident experience in urban and mixed-use communities across the United States. It targets renters willing to pay premium rents for high-end amenities, professionally managed operations, and integrated smart-home features.
• Amavi Amavi is Mill Creek's single-family build-to-rent brand offering brand-new single-family rental communities with 2-5 bedroom townhomes and homes. The product targets the underserved BTR-SFR market and serves families or individuals seeking premium, professionally managed single-family housing in lieu of homeownership.
• Alister Alister offers redesigned apartment homes that fit lifestyle and budget, providing quality rental housing at attainable price points for renters seeking value-oriented professionally managed apartment living outside the luxury segment.
• Beckett Beckett offers well-crafted apartment homes designed to deliver energy, community, and a sense of belonging for renters prioritizing social atmosphere and amenity-rich living.
• Investment Management Mill Creek's Investment Management platform provides asset management, investment management, and development services to institutional investors through commingled funds, separately managed accounts, joint ventures, and asset management arrangements. Since inception in 2019, the team has raised approximately $4 billion of institutional equity to support multifamily development, acquisitions, and the build-to-rent single-family rental platform.

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability4 records

Feature4 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Unibail-Rodamco-Westfield (URW)coreStrategic or Co-development Partner · 15 June 2026URW and Mill Creek have broken ground on a $300+ million mixed-use redevelopment at Westfield Garden State Plaza in Paramus, New Jersey, adding 575 luxury apartments along with retail space and a 1-acre public town green. This is the largest project in Mill Creek's company history and aims to transform the 2.1 million-square-foot mall into a walkable town center. URW is exploring a hotel, medical offices, and senior living for future phases.
• The Mick BrasserieminorOthers · 20 May 2026Restaurant tenant at Modera Higley Commons in Gilbert, Arizona - one of seven new retail tenants at the mixed-use community including California Closets, Pvolve, Zara Nail Bar, Playa Bowls, Bodybar Pilates.
• Indaco (Indigo Road Hospitality Group)minorOthers · 2 April 2026Italian restaurant at Modera Riverview in Nashville's Germantown neighborhood. Opened March 2026 as Indaco's first Tennessee location, owned by Indigo Road Hospitality Group which operates multiple restaurants in Nashville.
• LEGACY FitnessminorOthers · 2 April 2026Fitness facility at Modera Riverview in Nashville's Germantown neighborhood. Originally based in Miami, this opened as its first location outside South Florida, representing the beginning of LEGACY's nationwide expansion.

Scale indicators19 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Trammell Crow Residential: The former employer of Mill Creek's founders and the progenitor firm. Trammell Crow Residential is a direct multifamily development, acquisition, and management peer; the leadership lineage means product, customer base, and operating model are closely aligned.
• Greystar Real Estate Partners: The largest third-party multifamily property manager, developer, and investment manager globally. Direct competitor across each of Mill Creek's five service modules (Investment Management, Development, Construction, Acquisitions, Property Management) and the #1 ranked firm in NMHC rankings where Mill Creek is #2.
• Alliance Residential: Vertically integrated multifamily developer, builder, and property manager operating across Sun Belt and other US markets. Direct peer across multifamily development, brokerage, and property management; multiple Mill Creek executives previously held roles at Alliance.
• Wood Partners: National multifamily developer focused on ground-up construction in high-barrier US markets. Comparable platform given its emphasis on development and property management of luxury and attainable rental product, with several Mill Creek alumni having worked at Wood Partners.
• Lincoln Property Company: One of the largest diversified real estate developers and third-party multifamily managers in the US, with a vertically integrated development and property management platform directly comparable to Mill Creek's five-module structure.
• Gables Residential: Multifamily owner, developer, and manager concentrated in urban and high-growth suburban markets. Direct peer for both development and operations; Mill Creek's COO Michael Hefley previously served as COO of Gables Residential.

Broad incumbents

• The Related Companies: Diversified national developer (affordable, market-rate, mixed-use, office). It is a broader incumbent rather than a pure multifamily peer, but competes with Mill Creek on mixed-use and luxury apartment deals, and is comparable on development scale and institutional investor relationships.
• AvalonBay Communities: Publicly traded multifamily REIT that owns, operates, develops, and acquires apartment communities in high-barrier US markets. Comparable because its operational scope (own-and-operate multifamily in urban/suburban markets) overlaps with Mill Creek's owned portfolio and acquisition strategy.
• Camden Property Trust: Publicly traded multifamily REIT operating a portfolio of apartment communities in Sun Belt markets that overlap heavily with Mill Creek's footprint. Comparable as an incumbent multifamily owner-operator with similar geographic exposure and resident demographic focus.

Emerging players

• Middleburg Communities: National build-to-rent (BTR) single-family rental developer and operator. Comparable specifically to Mill Creek's Amavi brand and its expansion strategy in the BTR/SFR segment, though smaller in scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/mill-creek-residential-trust-llc
• Instagraminstagram.com/millcreekplaces
• Xx.com/millcreekres
• Facebookfacebook.com/millcreekresidential

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mill Creek Residential Trust