Morgan Properties has acquired parcHaus at Skyline, a new 136-unit, single-family rental community in McKinney, Texas.
It purchased the luxury build-to-rent community from Dallas-based Provident Realty Advisors. Rebranded Elevate at Skyline, this transaction represents Morgan Properties’ first build-to-rent (BTR) acquisition and its third rental community in Texas.
“For nearly four decades, Morgan Properties has been predominantly focused on acquiring larger Class B multifamily portfolios where we can bring our value-add expertise and create operational efficiencies,” said Jonathan Morgan, president of Morgan Properties JV. “While these opportunistic multifamily investments remain our core focus, we also see immense opportunity in partnering with developers in the build-to-rent market and capitalizing on the growing popularity among renters for single-family homes that allow for more space and privacy.”
Located right outside the Dallas-Fort Worth area,
