MCKINNEY, TX – National real estate investment and management company Morgan Properties has entered into the build-to-rent space with the purchase of a newly-constructed, 136-unit, single-family rental community in McKinney, TX.
The transaction represents Morgan Properties' first build-to-rent 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," says 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."
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
