Morgan Properties
| Company type | Private |
|---|---|
| Founded | 1985 |
| Founder | Mitchell Morgan |
| Headquarters | Conshohocken, Pennsylvania (formerly King of Prussia, Pennsylvania) |
Morgan Properties is an American real estate investment and management company founded in 1985 and based in Conshohocken, Pennsylvania.[1] It is one of the largest owners of multifamily housing in the United States, with a portfolio that includes over 350 apartment communities and more than 95,000 units across 19 states. The company is known for its family-led management style, emphasizing quick decision-making, operational expertise, and a commitment to community relationships.[1][2]
Mitchell Morgan is the founder and current chief executive officer of the company.[3]
History
[edit]Morgan Properties was founded in 1985.[4]
In 2007, alongside AIG Global Real Estate, Morgan Properties purchased nearly 17,500 apartments for around $2 billion from Kushner Companies.[5]
In 2018, tenants in Maryland filed a lawsuit against Morgan Properties, alleging that the company charged residents illegal fees.[6] The company has been the subject of lawsuits in Pennsylvania alleging it refused accommodation requests for disabled tenants, and in Maryland alleging that it allowed a bed bug infestation.[1]
In 2019, the company purchased eighty apartment complexes from unrelated Morgan Communities, whose founder, Robert C. Morgan, has been charged with mortgage fraud.[4][7]
In 2022, several law firms filed an antitrust class action lawsuit against RealPage and multiple of RealPage's property management clients, including Morgan Properties.[8]
References
[edit]- ^ a b c Tognini, Giacomo (October 2, 2024). "This Ex-Shoe Salesman Built A $5.5 Billion Fortune In Aging Apartment Buildings". Forbes. Retrieved December 7, 2024.
- ^ "NMHC 50 Largest Apartment Owners". National Multifamily Housing Council. Retrieved December 7, 2024.
- ^ "Mitchell Morgan & family". Forbes. Retrieved December 7, 2024.
- ^ a b Leonard, Matthew (June 6, 2019). "Morgan Properties: What we know about the PA company that could soon manage Bob Morgan apartments". Democrat and Chronicle. Retrieved December 7, 2024.
- ^ Heininger, Claire (June 27, 2007). "Kushner sells much of NJ property in $2B deal". NJ.com. Retrieved December 7, 2024.
- ^ Shen, Fern (December 17, 2018). "Pennsylvania company charges illegal fees, Maryland tenants allege". Baltimore Brew. Retrieved December 7, 2024.
- ^ Park, Katie (October 30, 2019). "King of Prussia investor buys 80 apartment complexes from N.Y. company charged with mortgage fraud". The Philadelphia Inquirer. Retrieved December 7, 2024.
- ^ "RealPage Federal Antitrust Class Action". Hausfeld. Retrieved December 7, 2024.