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Morgan, CAPREIT, Core Spaces make apartment buys
Yahoo Finance· 2026-03-04 13:54
Market Overview - The apartment deal market experienced a sluggish start in 2026, with sales declining by 25% year over year in January according to MSCI. However, early March indicates a potential increase in transaction volume [1]. Recent Acquisitions - Hamilton Zanze acquired City Limits, a 254-unit garden-style community in Columbia, Tennessee, marking a significant transaction in the multifamily sector [2]. - Morgan Properties, the second-largest apartment owner in the U.S., purchased Corwyn South Point Apartments, a 260-unit property in McDonough, Georgia, from ECI Group, with the deal closing on March 3 [3]. - Core Spaces announced the acquisition of The Collective at Columbia, a 318-unit student housing community near the University of Missouri, from Preiss and a real estate fund advised by Crow Holdings Capital, also closing on March 3 [6]. Property Features and Amenities - Corwyn South Point offers one-, two-, and three-bedroom apartments with amenities including a 2,000-square-foot clubhouse, fitness center, resort-style pool, and outdoor grilling areas [4]. - The Collective at Columbia features cottage-style layouts with two- to four-bedroom floor plans, a resort-style pool, fitness center, study lounges, and a private shuttle to campus [7]. Strategic Insights - Morgan Properties expressed satisfaction with the acquisition, highlighting the community's location and amenity offerings as aligned with long-term growth expectations in the Atlanta market [5]. - ECI Group noted strong buyer interest in South Point due to its quality, age, and location in a growing market [5].