A partnership between the Brandon Company and Nova Southeastern University has sold Modera Academical Village development site, a two-phase, 793-home mixed-use apartment community with 16,000 square feet of ground-floor retail located on the campus of Nova Southeastern University in Davie, Fla.
JLL marketed the property on behalf of the seller.
The financial terms were not disclosed; however, the new owner is Mill Creek. In addition, JLL also secured a joint venture equity partnership with FCP to capitalize the first phase of the project, as well as the acquisition of the land for the second phase.
Situated at 3400 S. University Drive, Modera Academical Village is located on the campus of Nova Southeastern University, adjacent to HCA Healthcare’s newly constructed 950,000-square-foot hospital. The property is just 15 minutes from downtown Fort Lauderdale and within a 30-minute drive of 76 million square feet of office parks. The community’s proximity to I-