Apartment owner and operator Morgan Properties has been on an acquisition tear for years. Since 2012, the firm has acquired 55,000 units comprising about $7.5 billion. Overall, it now owns about 80,000 units in 15 states.
Even with Covid-19 and an apartment transaction slowdown in the Spring and early Summer, Morgan still bought more than $1 billion of apartments in 2020.
In September, Morgan closed on a $323 million portfolio acquisition of 18 communities encompassing 3,300 units in North and South Carolina, taking the company's unit count in the Carolinas to nearly 5,000 units.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
