Major Residential Landlord Spends Half A Billion Dollars To Buy 3,000 Apartments In The Midwest As Job Growth Heats Up [Yahoo! Finance]
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Source: Yahoo! Finance
The Midwest has an apartment supply problem, and large-scale landlords aim to fill the gap. Morgan Properties, which owns 100,000 units in 22 states, has just agreed to pay $501 million to buy 11 multifamily properties comprising 3.054 units across the Midwest, the company said in a press release “The Sunbelt was obviously hot post-Covid,” Morgan Properties Co-President Jonathan Morgan said. “At the moment, it's the Midwest.” Don't Miss: This investment company boasts a 33.85% internal rate of return (IRR) for its realized projects, allowing accredited investors to earn passive returns and avoid the headaches of being a landlord. Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — you can become an investor for $0.80 per share today. The latest Midwest acquisition is an aggressive play that has seen the company increase its Midwest holdings from 793 units to 14,500 units in six years. It includes apartment building
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