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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
Morgan Properties, Olayan America buy El Camino Real Apartments, Savannah Place Apartments, Tuscany Pointe Apartments and Somerset Place Apartments in Boca Raton bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.