CONSHOHOCKEN, PA — Morgan Properties has announced the acquisition of a 3,054-unit portfolio spanning 11 properties across eight Midwest states from Trilogy Real Estate Group in a $501 million transaction. This milestone acquisition pushes the company’s apartment holdings to over 100,000 units nationwide, underscoring its position as a major force in the multifamily housing sector.
The acquired properties, located in Illinois, Indiana, Kentucky, Michigan, Missouri, Ohio, Oklahoma, and Tennessee, were built between 1989 and 2018 and are strategically positioned in highly desirable submarkets. The deal reflects Morgan Properties’ continued effort to expand its footprint in the Midwest and strengthen its national presence.
“Surpassing 100,000 units is a defining moment and a testament to the hard work and dedication of our entire organization,” said Jonathan Morgan and Jason Morgan, Co-Presidents of Morgan Properties. “We remain selective and opportunistic as we strategically grow our portfolio, leveraging our experience to deliver on acquisitions with execution certainty.”
As part of its value-add strategy, Morgan Properties will focus on enhancing the newly acquired communities through operational and physical upgrades. Planned improvements include updated flooring, appliances, cabinets, and countertops, as well as the addition of smart home technology and refreshed amenities aimed at improving tenant experience and market appeal.
Morgan Properties now manages over 360 communities in 22 states. This latest acquisition is one in a series of high-profile deals under the leadership of Jonathan and Jason Morgan, including a landmark $2.6 billion acquisition of 98 communities. The firm’s holdings have more than doubled in the past six years, solidifying its standing as one of the largest multifamily operators in the United States.
With the Midwest portfolio acquisition complete, Morgan Properties continues its strategy of growth through targeted acquisitions and property enhancements, positioning itself to meet the evolving needs of residents while delivering on its commitment to quality and value.
For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and MSN.