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indsorMill,MD — Morgan Proper- ties , a real estate in- W Company acquires over $800m of multifamily investments in last year Morgan Properties acquires $247m, six property portfolio consisting of 1,979 units

ISSUE HIGHLIGHTS Volume 29 Issue 8 April 14 - 27, 2017

vestment and management c o m p a n y , ann o un c e d today that it has acquired a $247 mil- lion, six prop- erty portfolio consisting of

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Silver Spring

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unit apartment portfolio span- ning Maryland, Pennsylvania, North Carolina, and South Carolina • Avery Park, a 606-unit apart- ment community located in Silver Spring, Maryland • Grand Pointe, a 325-unit apartment community located in Columbia, Maryland • Henson Creek, a 450-unit apartment community located in Temple Hills, Maryland Morgan Properties has ac- quired 21 apartment com- munities and 6,300 units this year and has closed on all the deals it has been awarded. To support these assets, the company has hired 140 new employees. “Morgan Properties is one of the nation’s largest and fastest growing multifamily owners

and operators. Our recent growth is attributable to our ability to deploy capital, gain scale and quickly leverage off our operational efficiencies to achieve high occupancy and resident satisfaction,” said JonathanMorgan , president of Morgan Properties JVMan- agement. 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 $2 billion of multifamily invest- ments and 17,000 units. The Company has a proven track record of creating value for its equity investors through value-add repositioning, re- habilitation, and professional management expertise.

Morgan adds, “We intend to continue growing by acquiring class B, multifamily assets in infill, high-barrier markets where our operational exper- tise can quickly add value for our investors and residents. We have the capital to move quickly to acquire sizable mul- tifamily portfolios in major MSAs nationwide.” Morgan Properties intends to acquire $1 billion in real estate assets in 2017. The Company will invest $60 mil- lion in value-add renovations to reposition recently acquired properties. Amenities will include premium kitchen and bath upgrades, as well as the addition of fitness centers, resident lounges, dog parks, playgrounds, grilling areas, and exterior fitness stations. n than 500 tenants. “We are enthusiastic about the investment potential of this portfolio and the ability to extend our national industrial footprint to over 45 million s/f,” said David Luski , presi- dent of DRA Advisors. According to Franz Col- loredo-Mansfeld , CEO of Cabot Properties, this block- buster deal concludes disposi- tion activity for his firm’s Fund II assets. “We are pleased to have closed this large, complex transaction, which marks the successful and profitable close of an investment program we launched in late 2005,” Col- loredo-Mansfeld said. “Con- tinuing strong tenant demand and very favorable conditions in the industrial property markets should also make this a successful investment for DRA Advisors.” n

Jonathan Morgan

1,979 units located in Wind- sor Mill from Harbor Group International. The acquisition, called the Rolling Road Port- folio, includes Crosswinds at Rolling Road, Diamond Ridge, Glens at Rolling Road, Granite Run, Rolling Wind and Strat- ton Meadows. The acquisition comes on the heels of five other recent transactions closed by Morgan Properties. This brings the company’s total multifam- ily investment during the last year to over $800 million and 6,300 units. Morgan Proper- ties’ other recent transactions include: • Bishop’s View, a 200-unit apartment community located in Cherry Hill, New Jersey • The Star Portfolio, a 2,826-

SOutheastern PA Upcoming Conferences April 26, 2016 New Jersey Office Summit April 27, 2017 Philadelphia Capital Markets Summit May 10, 2017 Pittsburgh Multifamily Summit May 17, 2017 2nd Annual Delaware CRE Forecast Summit For speaking and sponsorship information, please contact: Linda at 781-740-2900 or lchristman@marejournal.com 5-13C

DRA Advisors acquires $1.07 billion portfolio from Cabot Properties, assets span 21 markets

NEW YORK, NY — New York City-based investment advisory firm DRA Advisors LLC has acquired a 19.8 mil- lion s/f industrial portfolio on behalf of its funds from

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Boston-based private equity real estate firm Cabot Prop- erties, Inc. Eastdil secured and Cushman & Wakefield represented Cabot Properties in the $1.07 billion trade. The portfolio is geographi-

cally diversified across 21 markets throughout the Unit- ed States, including major in- dustrial hubs such as Dallas, Chicago, Columbus, Houston and Atlanta. Its 184 proper- ties are 94% leased to more

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