Morgan Properties Acquires $500M Midwest MF Portfolio from Trilogy

Morgan Properties has acquired a $501 million Midwest rental portfolio from Trilogy Real Estate Group.

Morgan Properties bought the portfolio which includes 3,054 units across 11 assets in eight Midwest states. The acquisition marks a significant milestone in the firm’s apartment holdings to over 100,000 units nationwide, while continuing to broaden its presence throughout the Midwest.

Newmark’s Adam Doneger and Josh King brokered the deal. Newmark brokered 10 of the properties and Walker & Dunlop brokered one property in the transaction. The communities, located in Illinois, Indiana, Kentucky, Michigan, Missouri, Ohio, Oklahoma, and Tennessee, range in age from 1989 to 2018 and are well-located within their respective submarkets.

“As we continue to strategically expand our national portfolio, we remain selective and opportunistic in this environment,” said Jonathan Morgan and Jason Morgan, Co-Presidents of Morgan Properties. Morgan Properties now owns and operates over 360 communities in 22 states throughout the country.

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