4-12-19

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Becomes PA’s largest multifamily owner Morgan Properties hits major milestone with 50,000 units

SPOTLIGHT APPRAISAL SPOTLIGHT 10-15A WILDER ENTERS MID-ATLANTIC ISSUE HIGHLIGHTS Volume 31, Issue 7 April 12 - 25, 2019 REGION WITH CONTRACT TO LEASE & MANAGE MD MIXED-USE DEV.

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ily industry and are very well positioned for the future. Our team is looking forward to hit- ting the ground running on this one. Since 2012, Morgan Properties has purchased over $5 billion in total acquisi- tion volume comprised of over 30,000 units.” The Philadelphia assets in this portfolio consist of seven apartment communities to- taling 2,346 units. Stonegate at Devon and Villas at Bryn Mawr, both located in the cov- eted Main Line neighborhoods of Devon and Bryn Mawr, total 947 units. The remaining five assets, totaling 1,399 units, are situated in Conshohocken, West Chester, Downingtown, Jeffersonville, and Bensalem in suburban Philadelphia. The Northern VA sub-portfo- lio consists of three apartment communities totaling 1,784 units. Mount Vernon Square in Alexandria, Virginia repre- sents the largest property in the portfolio, with 1,387 units.  location with close proximity to employment, arts, and en- tertainment,” said Andy Wal- lace, CEO and Principal of One Wall Partners. “These assets perfectly complement our exist- ing portfolio of transit-oriented workforce housing, and we look forward to increasing their value by enhancing services and amenities for residents.” One Wall Partners was represented in-house, while the seller was represented by CBRE , which also arranged financing for the transaction with Freddie Mac and MF1, a JV led by Berkshire Residential Investments and Limekiln Real Estate. “We’ve aligned ourselves with strategic equity partners that support our value-add capex plan and recognize the upside in these markets,” said Nate Kline, CIO and principal of One Wall Partners. 

HILADELPHIA, PA — Morgan Properties , one of the nation’s larg-

est and fast- est growing multifamily investors, an- nounced to- day it official- ly ranks as Pennsylva- nia’s largest multifamily

Mount Vernon Square, 1,387 Units, Alexandria, VA

JonathanMorgan

Morgan Properties plans to invest an additional $20 million into renovations and amenity upgrades in these properties. Morgan Properties has successfully completed recent acquisitions in both markets including the Mark Center Portfolio, a $509 million acquisition comprised of 2,664 units in Alexandria, VA; and Chesterfield Apartments and Curren Terrace Apartments, a combined $71 million portfolio acquisition in suburban Phila- delphia. Morgan Properties currently owns 5,000 units in Northern VA. “We are extremely proud of

our organization in achiev- ing this significant milestone of reaching 50,000 units. We considered this portfolio a once in a lifetime acquisition opportunity as it marks the largest multifamily transac- tion in Pennsylvania to date and officially makes us the top multifamily owner in our home state,” said Jonathan Morgan , president of Morgan Properties JV. “This transac- tion solidifies the geographic concentration in two of our core markets of suburban Philadelphia and Northern VA. We are confident in the strong fundamentals of the multifam-

owner and operator following its historic portfolio acquisition of 10 apartment communities with 4,130 apartments span- ning Philadelphia and North- ern Virginia. This acquisition brings Morgan Properties’ Pennsylvania portfolio to 9,300 units and its total unit count reaches 50,000 units for the first time since its inception in 1985. This landmark acquisi- tion marks the largest multi- family transaction in Phila- delphia to date and expands the company’s already growing presence in the Northeast and Mid-Atlantic Region.

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UPCOMING CONFERENCES May 23, 2019 4th Annual PA Healthcare & Medical Properties Conference Courtyard Philadelphia City Ave Hotel For speaking and sponsorship information, please contact: Lea at 781-740-2900 or lea@marejournal.com

One Wall Partners acquires portfolio of 996 rental units in Lehigh Valley, PA

LEHIGH VALLEY, PA — One Wall Partners , an owner and manager of transit-orient- ed workforce housing, has ac- quired a portfolio of 996 rental apartments. The acquisition includes four properties in the

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One Wall Partners acquires of 996 rental units in Lehigh Valley PA

Lehigh Valley in Pennsylvania. The Lehigh Valley portfolio, which stands at 98 percent oc- cupancy, features three large garden complexes and a rental townhome community in ver- dant, residential neighbor- hoods. Each property offers numerous amenities, including outdoor pools, fitness centers and clubhouses. The properties are located near abundant new develop-

ment, a thriving medical com- munity, an extensive network of colleges and universities, and a growing corporate commu- nity. Renters also have easy ac- cess to the LANTAmass transit system and multiple highways connecting them to Pennsylva- nia’s and New Jersey’s largest employment hubs. “The Lehigh Valley portfolio provides enormous opportunity for renters seeking a central

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