Supermarket A Key Addition To 628-Unit Mixed Use, Transit-Oriented Community

VIENNA, Va. – May 18, 2016 – Mill Creek Residential, a leading multifamily investor and operator specializing in premier apartment communities across the U.S., and institutional investors advised by J.P. Morgan Asset Management today announced the opening of a full service Harris Teeter supermarket to Modera Avenir Place, a 628-unit mixed-use, transit-oriented community that began leasing in 2013.

Harris Teeter will join an impressive list of on-site retailers that include Starbucks, Smashburger, BB&T, Verizon, Orange Theory Fitness, Hair Cuttery, Tropical Smoothie Cafe, Jersey Mike’s, District Taco, Arosto’s, Spice 6 and Thai by Thai. Residents of Modera Avenir Place will also have the option to have groceries delivered to their apartment homes from Harris Teeter via the supermarket’s UberRush delivery service.

“Modera Avenir Place is one of the few apartment communities boasting the luxury of an onsite grocery store, a modern convenience that elevates Modera Avenir Place to one of the most walkable and attractive places to live in the submarket,” said Peter Melmed, managing director of development for Mill Creek Residential. “Along with the vast array of retail and restaurant destinations nearby, residents can grab a coffee, work out, get a new phone, eat lunch and shop for groceries without having to drive anywhere.”

The addition of Harris Teeter will complement the newly completed Modera Avenir Place that offers a strong contingent of lifestyle enhancing amenities, including two resort-inspired pools, two club-style fitness centers, two resident lounges and two business centers. Residents of the luxury community can select studio, 1- or 2-bedroom apartment homes that feature a variety of finishes, including classic modern, urban elegant or industrial chic.

Residents of Modera Avenir Place enjoy a walkable, public-transit friendly lifestyle with the Dunn Loring-Merrifield Metro stop just steps from the community. Also conveniently accessible are Route 66, The Capital Beltway and Lee Highway. With the addition of Harris Teeter, no Metro line or freeways will be needed for residents shopping for groceries.

Including Modera Avenir Place, Mill Creek has developed more than 4,100 additional apartments in the Washington, D.C. metropolitan area.  J.P. Morgan Asset Management – Global Real Assets has more than $90 million in assets under management and manages more than 50,000 residential units on behalf of institutional investors.

About Mill Creek Residential

Mill Creek Residential Trust LLC is a national multifamily company focused on the development, acquisition and operation of apartment communities in targeted markets nationwide. The company proactively pursues development, acquisition and construction opportunities through its seasoned team of real estate professionals in 14 offices across the United States. Mill Creek is building its portfolio in many of the nation’s most desirable apartment markets in Seattle, Portland, the San Francisco Bay area, Southern California, Denver, Dallas, Austin, Houston, South Florida, Tampa, Orlando, Atlanta, Washington, D.C., New Jersey, New York, and Boston. As of March 31, 2016, the company’s portfolio comprises 54 communities representing nearly 15,600 apartment homes that are operating and/or under construction. For more information, please visit www.MillCreekPlaces.com.

About J.P. Morgan Asset Management – Global Real Assets

J.P. Morgan Asset Management – Global Real Assets has more than $90 billion in assets under management and more than 400 professionals in the U.S., Europe and Asia Pacific, as of March 31, 2016. With a 45-year history of successful investing, J.P. Morgan Asset Management – Global Real Assets’ broad capabilities provide many of the world’s most sophisticated investors with a global platform of real estate, infrastructure and transportation strategies driven by local investment talent with disciplined investment processes consistently implemented across asset types and regions. For more information: jpmorgan.com/institutional/global_real_assets.

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