Morgan Properties pays $780m for two portfolios

Morgan Properties has acquired two portfolios totaling 18 apartment communities and 4,724 units in four states: Georgia, Florida, North Carolina, and South Carolina.

Morgan Properties acquired the Middle Street Partners (MSP) and Northland portfolios for a combined $780.5 million. With the addition of these new communities, Morgan Properties now owns and operates 10,540 units throughout the Sunbelt region and 95,000 units nationwide.

“These two portfolio acquisitions come just months after our monumental $1.75B North Star transaction, making 2021 another significant year in Morgan Properties’ three-decade growth story,” said Jonathan Morgan, president of Morgan Properties Joint Venture. “Since 2012 alone, we have acquired more than $9 billion of assets and over 75,000 units, strengthening our reputation as one of the fastest-growing multifamily owners-operators. As we inch closer to becoming the largest in the nation, we’ll continue to prioritize opportunitie