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Morgan Properties picks up $278M Maryland-D.C. apartment portfolio

Morgan Properties bought a four-property portfolio in the suburban Maryland-D.C. Corridor worth $277.5 million from Rockpoint Group.

The NOAH portfolio comprises 2,729 units and includes Carriage Hill, Charlesmont, Gwynn Oaks and Princeton Estates.

Morgan also recently bought the 1,030-unit Parkview at Collingswood mid-rise apartment community in Collingswood, N.J., for an undisclosed sum.

With the acquisitions of the NOAH portfolio and Parkview at Collingswood and including its recent purchases of the 1,979-unit Rolling Road apartment portfolio in the Baltimore metro region, the 264-unit Montgomery Manor apartment community in Pennsylvania and the 2,664-unit Mark Center apartment portfolio in Alexandria, Va., Morgan said its multifamily investments in 2017 now total $1.2 billion aggregating more than 8,600 units.