Morgan Properties has acquired a nearly 80 apartment communities encompassing approximately 15,000 units across eight states.
Morgan Properties acquired the portfolio from Morgan Communities, a company based in Rochester, N.Y., that has no relation to the Pennsylvania-based company.
“This transaction establishes us as a top five multifamily owner in the country and the largest in the mid-Atlantic and Northeast region. This year we have acquired over $3 billion in total volume — our biggest year since our founding — and remain bullish on multifamily fundamentals,” said Jonathan Morgan, president of Morgan Properties.
This transaction takes Morgan Properties’ total portfolio to more than 75,000 units in 15 states throughout the country. Since 2012, the King of Prussia, Pa.-based owner and operator has acquired more than $7
