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Sign in Sign up for a FREE subscriptionMorgan Properties expands North Carolina footprint
Morgan Properties has acquired two class A apartment communities totaling 642 units in Fayetteville, N.C.
Morgan Properties purchased Westlake at Morganton (photo above) and The Preserve at Grande Oaks from Walker & Dunlop on behalf of Morganton Development.
With the addition of these two communities, Morgan Properties now owns and operates five apartment communities encompassing 1,530 units in Fayetteville, with additional communities in Raleigh, Charlotte and Salisbury. This acquisition brings the company’s current total portfolio to more than 93,000 units nationwide.
“Since our entry into North Carolina in 2016, we’ve seen tremendous success in the Sun Belt region and continue to be opportunistic about acquisitions that increase Morgan Properties’ presence in these states,” said Jonathan Morgan, president of Morgan Properties JV. “While class B has always been our niche, acquiring class A communities in markets with high population growth and
