Real estate investment and management company Morgan Properties has closed on the acquisition of six apartment complexes in a $247 million transaction. The portfolio consists of 1,979 units located in Windsor Mill, Maryland and was procured from Harbor Group International. Known as the Rolling Road Portfolio, the assets include Crosswinds at Rolling Road, Diamond Ridge, Glens at Rolling Road, Granite Run, Rolling Wind, and Stratton Meadows. The purchase brings the company’s total multifamily investment during the last year to over $800 million and 6,300 units.
“Morgan Properties is one of the nation’s largest and fastest growing multifamily owners and operators. 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,” says Jonathan Morgan, President of Morgan Properties JV Management. “We intend to continue growing by acquiring class B, multifamily assets in infill, high-barrier markets where our operational expertise can quickly add value for our investors and residents.”
