Morgan Properties’ new four-property apartment portfolio consists of 2,729 units located in the suburban Maryland-D.C. Corridor. The $277.5 million acquisition from Rockpoint Group brings the company’s multifamily investments to $1.2 billion with over 8,600 units this year. Buying over $1 billion in real estate assets was the companies goal for 2017.
Morgan Properties has a penchant for setting and achieving ambitious goals. In five years they’ve acquired $3 billion and 23,000 units in multifamily investment. The company is now the largest multifamily owner/operator in the state of Maryland. A far cry from the days when the company owned 4,300 units in the Maryland D.C. area.
“We want to remain quick and nimble as we continue to grow our investment portfolio,” said Jason Morgan, Senior Vice President of Acquisitions and Capital Markets to various media outlets. “We look forward to having another big year in 2018.”