Conshohocken-based Morgan Properties has significantly expanded its presence in Pennsylvania by acquiring a multifamily portfolio totaling 3,434 units, writes Paul Schwedelson for the Philadelphia Business Journal.  

The real estate firm purchased the 11-property portfolio from Flourtown-based DePaul Management Co., the original developer of these properties. The financial terms of the deal were not disclosed. 

The acquisition includes four apartment communities in Montgomery and Bucks counties, comprising 1,743 units: 

• Blair Mill Village East, Horsham: 768 units 

• Blair Mill Village, Horsham: 368 units 

• Wissahickon Park, Lansdale: 343 units 

• Quakertown West, Quakertown: 264 units 

Morgan Properties plans to invest $80 million in upgrading the newly acquired properties. Enhancements will include kitchen and bathroom renovations, improved lighting, security upgrades, and new landscaping.  

Additional improvements will feature in-unit washers and dryers, high-efficiency heating systems, expanded fitness centers, new dog parks, and pickleball courts. 

Read more about Conshohocken-based Morgan Properties in the Philadelphia Business Journal.