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Camino Real Apartment Homes with El-Ad’s Yitzhak Tshuva and Noam Ziv and Morgan Properties’ Mitchell Morgan (Google Maps)
Morgan Properties bought four multifamily complexes in and near Boca Raton for $126 million, as part of a $1.8 billion national apartment portfolio purchase that marks the biggest such deal in the U.S. so far this year.
King of Prussia, Pennsylvania-based Morgan Properties, along with Olayan America, bought 48 complexes with 14,414 units in 11 states. The seller is STAR Real Estate Ventures, a joint venture between El-Ad National Properties and Yellowstone Portfolio Trust. The portfolio is called North Star.
Palm Beach County property records show Morgan bought Camino Real Apartments at 33 East Camino Real in Boca Raton for $47 million. The 9-story, 235-unit community was built in 2002 on 2 acres. The sale represents a notable drop in price from five years ago when Boca Raton-based El-Ad National bought the property from Gable
KING OF PRUSSIA, PA - Morgan Properties, the nation s largest private multifamily owner, announced it has acquired, in partnership with Olayan America, a portfolio of 48 apartment communities and 14,414 units in 11 states for $1.75 billion. The Morgan Properties and Olayan America joint venture purchased the North Star Portfolio from STAR Real Estate Ventures, a joint venture between El-Ad National Properties, LLC and Yellowstone Portfolio Trust. The North Star acquisition is the largest multifamily transaction this year and Morgan Properties’ largest deal since acquiring the Morgan Communities portfolio of 95 apartment communities and 17,500 units in 8 states for $1.9 billion in 2019.
“The North Star investment is a strategic transaction for Olayan America, and provides access to some of the best multifamily markets in the nation. It speaks to the strength of our partnership with Morgan Properties and our continued confidence in the multifamily sector,” said Erik Horvat, Ma
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Yitzhak Tshuva, Yakir Gabay complete sale of US co Star globes.co.il - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globes.co.il Daily Mail and Mail on Sunday newspapers.
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Perpetual construction, traffic changes take its toll. I popped into Circle K on Concord Parkway across from Golden Corral the other day to get a drink. The first thing I noticed was several empty coolers.
The convenience store is closing March 12 and the building will be demolished.
Business has been way off. My guess is the constant construction and the re-routing of traffic doomed the business. Iâm sure the pandemic didnât help.
The old Kannapolis Highway/U.S. 29-A street was rerouted up to square up with Mall Drive. I noticed that there was a lot more traffic on the northbound side of Concord Parkway, than on the southbound side where Circle K is.