The buyer secured $70 million in acquisition financing for the two communities.
Morgan Properties has acquired two multifamily communities totaling 696 units in Fort Wayne, Ind., according to Yardi Matrix information. Haley Residential sold both assets after 19 years of ownership.
One of the properties is Willows of Coventry, a 448-unit community at 4499 Coventry Parkway. Jones Lang LaSalle financed the acquisition with a $46.5 million loan.
The other one is Pointe Inverness, a 248-unit property at 7051 Pointe Inverness Way. This purchase was financed with a $23.6 million loan from the same lender…