Conshohocken-based Morgan Properties continues its national expansion with the purchase of a 260-unit apartment community outside Atlanta, according to a press release.
Morgan Properties acquired The Corwyn South Point Apartments in McDonough, Georgia, from ECI Group. The 10-building complex will be renamed Arden at South Point. The sales price has yet to be disclosed.
Located near Interstate 75 in Henry County, the property features one-, two- and three-bedroom apartments. The units come with a range of amenities, including a 2,000-square-foot clubhouse, fitness center, resort-style pool, outdoor gathering areas, and a dog park. The community was developed and managed by ECI and achieved full lease-up within 16 months of opening.
Morgan Properties said the acquisition strengthens its presence in the greater Atlanta market, which company leaders view as a region with strong long-term growth and housing demand.
Founded in 1985 and headquartered in Conshohocken, Morgan Properties has grown into one of the nation’s largest multifamily real estate owners. The company now owns and manages more than 110,000 apartment units across over 400 communities in 22 states.
To learn more about Morgan Properties’ southern expansion, visit CityBiz.
