SALISBURY — One of the nation’s largest apartment owners and operators has announced the acquisition of three complexes in Salisbury.
Alexander Station, Ashton Woods and Lakewood Apartments were three of 18 communities in the Carolinas acquired as a part of a $323 million transaction by Morgan Properties, the fifth-largest apartment owner and operator in the U.S. Morgan Properties is based in King of Prussia, Pennsylvania, and owns more than 250 apartment complexes in 14 states.
In a news release, Morgan Properties President Johnathan Morgan indicated that the potential for population and job growth in the Carolinas was the driving force behind the acquisition.
“Despite 2020 being an unprecedented year, this acquisition shows our continued confidence in class B, value-add multifamily fundamentals, the strength of our business and talented team, and our eagerness to grow our portfolio,” Morgan said in a news release. “The Carolinas are fast-growing markets that offer