M id A tlantic Real Estate Journal — Owners, Developers & Managers — July 28 - August 10, 2017 — 3B
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O wners , D evelopers & M anagers Rolling Road, recently underwent a rebranding Morgan Props. commences $25m transformation of 1,979 units W indsor Mill, MD — Mor- gan Proper-
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ties , one of the country’s largest real estate invest- ment and management companies,announced to- day that it has launched its $25 million transformation of a six-property portfolio consisting of 1,979 units in Windsor Mill. Morgan Prop- erties purchased the prop- erties from Harbor Group International for $247 mil- lion. The portfolio, referred to as Rolling Road, recently underwent a rebranding and property consolidation into three communities: • The Townhomes at Dia - mond Ridge (formerly Strat- ton Meadows and Crosswinds at Rolling Road) • The Glens at Diamond Ridge (formerly Glens at Roll- ing Road) • The Apartments at Dia - mond Ridge (formerly Roll- ing Wind, Granite Run, and Diamond Ridge) The property name changes are just the beginning of a plan to create a new identity for these assets, a new direc- tion for the specific properties, and a new experience for the many residents who call them home. In addition to introduc- ing a new property-level team, the company has also dis- tributed surveys to existing residents to determine how to best provide them with a stronger sense of community and value. The responses in- dicated that improvements to the common area amenities, in-unit kitchen and bathroom upgrades, and the opportu- nity for community events are in high demand. As a direct response, Mor- gan Properties has commit- ted more than $25 million, or $13,000 per apartment, to ad- dress deferred maintenance, common area improvements, and apartment upgrades over a five-year period, with most of the improvements scheduled to be completed in the first two years. Common area additions will include select amenities such as: dog parks, playgrounds, outdoor grilling areas, fire pits, put - ting greens, sport courts, outdoor fitness stations, and clubhouse upgrades. “With every purchase, we make a long-term investment into the property, its residents, and the local area,” said Sean
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The Townhomes at Diamond Ridge
The Glens at Diamond Ridge
The Apartments at Diamond Ridge
Organ , area vice president of Morgan Properties. “It’s our hope that residents existing and new will ‘Experience More With Morgan,’ and we look
forward to providing the value and amenities that will ensure great experiences for everyone who calls these apartment com- munities home.” n
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