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

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. Read more...