Morgan Properties has acquired a portfolio of 3,054 units across 11 assets in eight Midwest states from Trilogy Real Estate Group. This acquisition, valued at $501 million, marks a significant milestone in the firm’s 40-year history as it expands Morgan Properties’ apartment holdings to more than 100,000 units nationwide while continuing to broaden its presence throughout the Midwest.
The communities – located in Illinois, Indiana, Kentucky, Michigan, Missouri, Ohio, Oklahoma, and Tennessee – were built from 1989 to 2018 and are exceptionally well-located within their respective submarkets.
Morgan Properties now owns and operates more than 360 communities in 22 states throughout the country. Through a series of key portfolio acquisitions, the largest of which was a $2.6 billion purchase of 98 communities, the firm’s apartment holdings have more than doubled in the past six years under the leadership of Jonathan and Jason Morgan.
