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August 30, 2015 10:58 AM ET

Real Estate Investment Trusts (REITs)

Company Overview of Morgan Properties Trust

Company Overview

Morgan Properties Trust focuses on operating as a real estate investment trust that specializes in the acquisition, ownership, management, and repositioning of multifamily properties in Philadelphia, New York-New Jersey, and Baltimore-Washington, D.C. metropolitan areas. As of December 31, 2010, it owned a portfolio of 94 properties consisting of approximately 21,518 apartment homes. The company, through joint ventures, owns equity interests in 5 additional properties that it manages, comprising approximately 1,573 apartment homes. Morgan Properties Trust is headquartered in King of Prussia, Pennsylvania.

160 Clubhouse Road

King of Prussia, PA 19406

United States

Founded in 1985

725 Employees

Phone:

610-265-2800

Fax:

610-265-5889

Key Executives for Morgan Properties Trust

Founder, Chairman, Chief Executive officer, President and Trustee
Age: 60
Chief Financial Officer
Chief Operating Officer
Age: 58
Senior Vice President of Financial Planning and Business Development
Regional Vice President of Property Operations
Compensation as of Fiscal Year 2015.

Morgan Properties Trust Key Developments

Morgan Properties Appoints Jeffrey Weissman as Senior Vice President of Operations

Morgan Properties announced that Jeffrey Weissman has been appointed as Senior Vice President of Operations. Jeff will lead the operations team through the implementation and execution of strategic, value added and resident enhancing business plans to improve performance while maintaining operational excellence and superior product and service quality. He previously served as their Executive Vice President of Operations and Vice President of Business Development.

Morgan Properties Inc. Acquires Three Windsor Mill Apartment Complexes

Morgan Properties Inc. has acquired three Windsor Mill apartment complexes for $35.9 million, adding 400 units to the company's 30,000-unit portfolio. The apartment units are all in close proximity to one another but are not the same development. They are the 172-unit Cedar Towers in the 3,700 block of Twin Lakes Courts, which sold for $15.2 million; the 228-unit Cedar Garden community and the 100-unit Valley Terrace apartment and townhouse complex. Morgan acquired the buildings in two transactions.

Morgan Properties and Core Properties LLC Acquire 500-Unit Multifamily Portfolio

Morgan Properties and its equity partner Core Properties, LLC have acquired the Windsor Mill Portfolio, a 500-unit multifamily portfolio, comprised of two garden-style apartment communities and one high-rise apartment building located just outside the Baltimore Beltway in Windsor Mill, Maryland. The Windsor Mill Portfolio marks the fourth acquisition that Morgan Properties has closed this year and their second acquisition with Core Properties. The Morgan Properties-Core JV previously acquired Northwest Crossing, a 588-unit garden-style apartment community located in Randallstown, Maryland in close proximity to the Windsor Mill Portfolio. Jones Lang LaSalle represented the seller on the disposition. The Windsor Mill Portfolio is a three-property apartment portfolio ideally situated outside the Baltimore Beltway in Windsor Mill, Maryland. All of the properties are conveniently located within a one-mile radius and have easy access to nearby highways linking them to the robust employment base in the Baltimore-DC Corridor. In addition, within the submarket, a brand new 160,000 square foot Wal-Mart and 58,000 square foot Weis Markets supermarket have recently opened and the Social Security Administration is in the process of opening a 538,000 square foot newly constructed, built-to-suit facility. The Social Security Administration has announced that it will transfer 1,600 employees in 2014 from its downtown Baltimore office to its new offices in the submarket.

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