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Morgan Properties Buys 500-Unit Memphis Rental Asset
A Morgan Properties affiliate bought a 500-unit apartment complex at 9135 Morning Ridge Road for $56.5 million. Independence Realty Trust was the seller. The Memphis Business Journal reports that Independence Realty purchased the property for $29.8 million in 2014. Morgan Properties currently owns two local apartment communities in the Memphis area: Crescent at Wolfchase and ...
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