Morgan Properties acquires two Midwest portfolios totaling 2,986 units for $410m

Morgan Properties has acquired two portfolios totaling eight apartment communities and 2,986 units in Illinois and Indiana.

Morgan Properties acquired the two portfolios for a combined $410 million. With the addition of these communities, Morgan Properties now owns and operates 2,035 units in Illinois, 3,692 in Indiana, and more than 95,000 nationwide.

“On the heels of our recent acquisition in Fayetteville, North Carolina, these portfolios presented yet another opportunity for Morgan Properties to continue to strategically diversify our geographic footprint beyond the Mid-Atlantic region,” said Jonathan Morgan, president of Morgan Properties’ joint venture. “We remain bullish on the fundamentals of the multifamily industry and are extremely well positioned to capitalize on portfolio acquisition opportunities. We are excited to achieve another milestone in growing our portfolio to 95,000 units and we will continue to target opportunistic deals in our acquisitio