/

|

With DNA that traces back to long-time Dallas-based apartment builder Trammell Crow Residential, Mill Creek Residential has made its mark as an apartment developer over the last decade and a half.

The Boca Raton, Florida-based firm is traditionally among the National Multifamily Housing Council’s Top 25 developers, slotting in at No. 2 this year with 8,022 starts in 2023.

But over the past 14 years, Mill Creek has also been acquiring properties — just at a much slower clip than it had been building them — primarily through one-off joint ventures. The firm does have a discretionary value-add fund, which it has used to buy four properties, according to Kel Frazier, president of acquisitions at Mill Creek.