Morgan Properties Acquires 470-Unit Apartment Complex in Indy
Morgan Properties, a national real estate investment and management company headquartered in Pennsylvania, acquired Astoria Park Apartments, a 470-unit apartment community in Indianapolis, Indiana. With the acquisition, the firm has expanded its Indianapolis portfolio to over 2,500 units.
Located at 3640 Beluga Lane, the property is situated in Hendricks County, on the west side of Indianapolis, and is close to Eagle Creek Park and Reservoir, major employers and universities. It boasts an outdoor pool, fitness center, tennis courts, playground, dog park and pet washing station, with upgraded kitchens and appliances, large closets, and private patios or balconies.
“The Midwest continues to be one of the most stable and attractive markets for multifamily investment, with steady population growth, affordable cost of living, and business-friendly policies,” said Jason Morgan, President of Morgan Properties Special Situations and Principal.