Morgan Properties, the Conshohocken-based real estate powerhouse, is expanding its footprint in the affordable housing space, writes Ryan Mulligan for the Philadelphia Business Journal.
Their NewPoint Impact Fund I is a national financing initiative supporting new and preserved affordable communities. The fund has already backed $600 million in municipal bonds across 17 transactions, resulting in 3,200 affordable units nationwide — and counting.
Co-President Jason Morgan said the firm expects the fund to help leverage more than $1 billion in bonds as demand for resilient, mission-driven housing continues to rise.
Morgan Properties is already known as one of the nation’s largest multifamily owners, with 100,000+ units across 360 communities, including 56 properties right here in Pennsylvania.
In recent years, the company has made big moves in its home region, adding more than 3,000 Keystone State apartments through an acquisition from Flourtown-based DePaul Management Co.
This announcement follows the firm’s purchase of Toronto’s Dream Residential REIT for $354 million and more than $1 billion in additional expected acquisitions this year.
For Montco residents, the growth reflects the continued influence of Conshohocken-based leaders shaping national real estate trends, while strengthening housing affordability across key regions.
To learn more, visit Philadelphia Business Journal.
