Morgan Properties Acquires DC-Area Portfolio for Record $509M

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King of Prussia, PA-based Morgan Properties acquired the Mark Center portfolio in Alexandria, VA for $509 million, making it the biggest transaction in the state for 2017. The Mark Center consists of 2,664 apartment units and a 63,320-square-foot retail center situated on more than 150 acres inside the Beltway.

Morgan Properties JV Management’s Jonathan Morgan says, “We felt this deal was a once-in-a-lifetime investment opportunity to acquire significant size and scale to generate operational efficiencies and enhance the value of the assets.”

The portfolio is located in the Seminary Road submarket, with access to Interstates 295, 395, and 495, and is within minutes of downtown Washington, DC. Its position in the I-395 Corridor places it close to a large concentration of defense contractors and federal government agencies

CBRE represented the undisclosed seller on the disposition.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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Morgan Properties Acquires DC-Area Portfolio for Record $509M

Inside The Story

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Sub Markets

National

Property Sectors

Topics

National CRE News In Your Inbox.

Morgan Properties Acquires DC-Area Portfolio for Record $509M

Inside The Story

About Dennis Kaiser