King of Prussia’s Morgan Properties Acquires Significant Portfolio in Maryland

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King of Prussia’s Morgan Properties has acquired a $247 million portfolio of six properties totaling 1,979 units located in Maryland.

King of Prussia’s Morgan Properties is continuing its acquisition spree by adding a $247 million Maryland portfolio to its inventory, according to a staff report from Multifamily Biz.

The Montgomery County real estate investment and management company acquired the six property portfolio consisting of 1,979 units in Windsor Mill from Harbor Group International.

The Rolling Road Portfolio, which includes Crosswinds at Rolling Road, Diamond Ridge, Glens at Rolling Road, Granite Run, Rolling Wind, and Stratton Meadows, brings Morgan’s multifamily investment over the last year to more than $800 million and 6,300 units.

Other acquisitions over the last twelve months include Bishop’s View, a 200-unit apartment community in New Jersey, the Star Portfolio which contains 2,826-units spread throughout Maryland, Pennsylvania, North Carolina, and South Carolina, and several other Maryland apartment communities.

To support the newly acquired assets, the company has also hired an additional 140 employees.

“Morgan Properties is one of the nation’s largest and fastest growing multifamily owners and operators,” said Jonathan Morgan, President of Morgan Properties JV Management. “Our recent growth is attributable to our ability to deploy capital, gain scale and quickly leverage off our operational efficiencies to achieve high occupancy and resident satisfaction.”

Read more about the acquired portfolio at Multifamily Biz by clicking here.

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