Morgan Properties Buys 2,729-unit MF Portfolio for $278M

“We have had stellar year. We have bought over 8,600 units for a total of $1.2 billion.”

TEMPLE HILLS, MD–Morgan Properties has acquired a four-asset, 2,729-unit apartment portfolio located in Maryland for $277.5 million from a JV between Rockpoint Group and Sawyer Realty Holdings, according to a public filing. It is the third major portfolio acquisition the King of Prussia, Pa.-based company has closed on this year, and makes it the largest owner of multifamily assets in the state of Maryland, Jonathan Morgan, president of Morgan Properties JV Management, tells GlobeSt.com.

The properties are the 474-unit Princeton Estates in Temple Hills; Carriage Hill, located in Randallstown, which has 806 units; 884-unit Glen Oaks in Woodlawn; and the 279-unit Charlesmont Apartments in Dundalk.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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