CHEVY CHASE, Md., July 13, 2022 /PRNewswire/ -- FCP® and joint venture partner Mill Creek Residential Trust (Mill Creek) announce the $25 million acquisition of the Modera Academical Village development site within the Academical Village master plan and adjacent to Nova Southeastern University mega-campus in Broward County, FL. Phase I of the development will break ground immediately and will include a 397-unit, eight-story apartment community at 3440 SW 76th Terrace with 9,000 square feet of ground floor retail. The acquisition includes a second phase of development with an additional 396 units.