Conshohocken’s Morgan Properties has added five more apartment complexes to its growing portfolio in a $35.5 million transaction across Northeast Florida, writes Dan Macdonald for Jacksonville Daily Record.
The acquisitions include four properties in Duval County and one in Clay County. Together, the purchases total more than 348 units. Amenities across the communities include on-site management, laundry facilities, and storage space. The properties were built between 1984 and 1987.
The move builds on Morgan Properties’ earlier investment in the region, following its 2021 purchase of Seagrass Apartment Homes in Jacksonville. The company specializes in Class B apartments and now oversees 350 properties with 97,000 units in 20 states.
Recently, Morgan acquired five communities from the New York real estate company, Arbor. The deal continues their strategy of building out a strong portfolio on the East Coast.
Morgan Properties was founded in 1985 by Mitchell Morgan and has remained a family-run company and a multi-family home powerhouse.
Read more about Morgan Properties’ acquisition of these Florida apartments in the Jacksonville Daily Record.
