M id A tlantic Real Estate Journal — Owners, Developers & Managers — July 28 - August 10, 2017 — 3B
www.marejournal.com
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 — M o r - g a n P r o p e r -
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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 Morg ,’ and w 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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