O wners , D evelopers & M anagers
Real Estate Journal — Section B
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M id A tlantic
ING OF PRUSSIA, PA — Morgan Prop- erties has acquired Company more than doubles the size of its portfolio holdings over the last 5 years Morgan Properties acquires $1.2 billion and 8,600 units in multifamily investments in 2017 K
existing portfolio. “Morgan Properties’ growth has been tremendous this year. We have closed five transac- tions in four states with three capital partners. Our Com- pany is uniquely positioned to scale our platform and le- verage off our strong capital relationships. Our operations and facilities teams excel at implementing our value-add repositioning strategies and generating operational efficien- cies. We have emerged as a major player in the multifamily industry. Morgan Properties prides itself on not only get- ting bigger, but also getting better as we continue to grow our business,” said Jonathan Morgan , president of Morgan Properties JV. Over the last five years, Morgan Properties’ portfolio holdings in the Maryland-D.C. Corridor have grown from4,300 units to 24,000, making it the largest multifamily owner/ operator in the state of Mary- land. Following the acquisition of Parkview at Collingswood, one of the largest apartment communities in southern NJ. n
a $277.5 mil- l i o n , f o u r - p r o p e r t y p o r t f o l i o consisting of 2,729 units l o c a t e d i n the suburban Ma r y l a n d - D.C. Corridor
NOAH Portfolio
Rolling Road Portfolio
Mark Center Portfolio
JonathanMorgan
Oaks, and Princeton Estates. Morgan Properties also re- cently acquired Parkview at Collingswood, a 1,030-unit, mid-rise apartment community in Collingswood, NJ. These ac- quisitions come on the heels of three other recent transactions closed by Morgan Properties. This brings the company’s total multifamily investments during this year to $1.2 billion and over 8,600 units. Morgan Properties’ recent transactions include the following: • Rolling Road Portfolio, a 1,979-unit apartment portfolio in the Baltimore Metro Region • Montgomery Manor, a 264- unit apartment community in Montgomery County, PA
• Mark Center Portfolio, a six- property, 2,664-unit apartment portfolio in Alexandria, VA • Parkview at Collingswood, a 1,030-unit apartment commu- nity in Collingswood, NJ • NOAH Portfolio, a 2,729-unit apartment portfolio located in the suburban MD-D.C. Cor- ridor Morgan Proper t i es has achieved its ambitious acquisi- tions goal of purchasing over $1 billion in real estate assets in 2017. This year marks the com- pany’s second largest year of total acquisition volume since 2007. Morgan Properties has acquired 18 apartment com- munities and over 8,600 units this year and has closed on all
the deals it has been awarded. To support these assets, the Company has hired 180 new employees. Since its inception in 2011, Morgan Properties JV has been one of the most active investors in the Mid-Atlantic and Northeast Region, and has acquired more than $3 billion of multifamily investments and 23,000 units. The Company has a proven track record of creating value for its investors through value-add reposition- ing, rehabilitation, and profes- sional management expertise. Given its impressive growth in scaling the platform, Morgan Properties JV has more than doubled Morgan Properties’
HI-LIGHTS J an . 26 - F eb . 8, 2018 from Rockpoint Group. The acquisition, called the NOAH Portfolio, includes Carriage Hill, Charlesmont, Gwynn
7-15B
Prism Capital Partners announces ON3 campus operational team Property Managers
Stimler of Greysteel brokers three property portfolio totaling $35.45 million
PARK SLOPE, NY — Greysteel, a national com- mercial real estate invest-
7B
ment servic- es firm, has successfully arranged the sale of 181- 182 Prospect Park Wes t and 409 14th St., located in Park Slope.
Green Buildings
Michael Stimler
Representing both the buyer an institutional investor and the seller, a private investor, the transaction was negoti- ated by Greysteel senior in- vestment associate, Michael Stimler from the firm’s New York office. The 78-unit, three- property portfolio sold for $35.45 million. 181-182 Prospect ParkWest, built in 1921, consists of 34
181-182 Prospect Park West
409 14th St.
units across two buildings and 409 14th St., built in 1920, consists of 44 units. Just steps away from Prospect Park and
public transportation, both Properties are in the heart of historic Park Slope, known as one of New York’s most desir-
able neighborhoods, features a plethora of lifestyle amenities, including ample shopping, din- ing and nightlife. n
17-BC-B
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