Neighborhood Watch

Six Pack: $247 Million For 6 Baltimore County Apartments

Morgan Properties of Philadelphia recently acquired 6 Baltimore County apartment projects for a total of $247 million. The portfolio of county properties covers 1,979 units and gives Morgan Properties a total of $800 million in real estate investments in the Mid-Atlantic Region.

The properties purchased are all located in the Windsor Mill area and were all previously owned by Harbor Group International:

  • Crosswinds at Rolling Road
  • Diamond Ridge
  • Glens at Rolling Road
  • Granite Run
  • Rolling Wind
  • Stratton Meadows

Morgan Properties will be investing $60 million in renovations of the kitchens and bathrooms of all the properties and will be adding fitness centers, resident lounges, dog parks and playgrounds.

“This is another case of an out-of-town group with huge resources going big with a large acquisition of Baltimore apartments,” said Gerard DiRuggiero, Principal Broker of UrbanLand Company. “The Baltimore market fits the criteria that a lot of these groups look for – expect even more talk of acquisitions soon.”

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