Mill Creek Announces Hire of Kel Frazier as President of Acquisitions

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Oct 03, 2023, 07:00 ET

Real Estate Veteran Will Help Bolster Company's Property Investment Initiatives

BOCA RATON, Fla., Oct. 3, 2023 /PRNewswire/ -- Mill Creek Residential, a fully integrated rental-housing investment firm that acquires, manages and develops premier rental communities across the U.S., today announced it has hired Kel Frazier as president of acquisitions. Frazier will have a prominent role in all facets of the acquisition process, including sourcing, underwriting and closing transactions in addition to participating on the Investment Committee.

Frazier's hire is emblematic of Mill Creek's strategic approach to acquisitions, as the company constantly monitors investment opportunities in key markets across the U.S. Mill Creek's most recent acquisition was Modera Art Park in the River North District of Denver, which the company acquired in late June.

"We're excited to add Kel to the Mill Creek family, and we know his proven track record and dynamic approach to acquisitions will prove invaluable," said Darren Schackman, chief investment officer for Mill Creek Residential. "We've always prided ourselves on taking a thoughtful and strategic approach to acquisitions, and we believe Kel is the ideal individual to lead Mill Creek's growth and expansion in this vertical."

Frazier has extensive experience in the multifamily investment sector. He most recently spent 11 years with Berkshire Residential Investments as senior vice president of investments. At Berkshire, he oversaw the company's investment activity in the East Region and participated in direct investment of over 28,000 apartment homes which resulted in $7 billion in total capitalization.

Frazier graduated from Ohio State with a Bachelor's degree in Human Ecology. He also earned a Master of Science in Real Estate Development from Massachusetts Institute of Technology and Master of Business Administration (Finance) from Boston University Graduate School of Management.

"I'm thrilled to join the Mill Creek team and spearhead acquisition efforts in our target markets across the country," Frazier said. "While we will remain aggressive in pursuing potential properties to acquire, we will continue to do so with a measured approach and seek opportunities that align with our investment criteria and long-term strategy. I look forward to working with this wonderful team."

About Mill Creek Residential
Mill Creek Residential Trust LLC is a national rental housing company focused on developing, acquiring, and operating rental communities in targeted markets nationwide. The national company, headquartered in Boca Raton, Florida, proactively develops, acquires, constructs, and operates communities through its seasoned team of real estate professionals in offices across the United States. Mill Creek is building its portfolio in many of the nation's most desirable markets in Seattle, Portland, the San Francisco Bay area, Sacramento, Southern California, Phoenix, Denver, Dallas, Austin, Houston, South Florida, Tampa, Orlando, Atlanta, Nashville, Charlotte, Raleigh, Washington, D.C., New Jersey, New York, and Boston. As of June 30, 2023, the company's portfolio comprises 128 communities representing over 35,000 rental homes operating and/or under construction. For more information, please visit www.MillCreekPlaces.com.