Morgan Properties and Olayan America Acquire Massive 14,414-Unit Multifamily Portfolio Across Eleven States for $1.75 Billion
KING OF PRUSSIA, PA - Morgan Properties, the nation's largest private multifamily owner, announced it has acquired, in partnership with Olayan America, a portfolio of 48 apartment communities and 14,414 units in 11 states for $1.75 billion. The Morgan Properties and Olayan America joint venture purchased the North Star Portfolio from STAR Real Estate Ventures, a joint venture between El-Ad National Properties, LLC and Yellowstone Portfolio Trust. The North Star acquisition is the largest multifamily transaction this year and Morgan Properties’ largest deal since acquiring the Morgan Commun...
Source: multifamilybiz.com