Morgan Properties has acquired two Class A apartment communities totaling 642 units in Fayetteville, NC. Both properties, Westlake at Morganton and The Preserve at Grande Oaks, were purchased from Walker & Dunlop.

With the addition of these two communities, Morgan Properties now owns and operates five apartment communities encompassing 1,530 units in Fayetteville, with additional communities in Raleigh, Charlotte and Salisbury. This acquisition brings the company’s current total portfolio to over 93,000 units nationwide.

“Since our entry into NC in 2016, we’ve seen tremendous success in the Sunbelt region and continue to be opportunistic about acquisitions that increase Morgan Properties’ presence in these states,” said Jonathan Morgan, president of Morgan Properties JV.

Morgan Properties plans to execute $7 million in improvements to the 2007-vintage communities, including interior upgrades and smart home technology, clubhouse, dog park and grilling patios.

Fayetteville is home to Fort Bragg, the largest military base in the US.

Photo: Westlake at Morganton