Morgan Properties Acquires Multifamily Property In Louisiana For $1.75B

The multifamily property located at 1019 Kaliste Saloom Rd has been sold in a transaction valued at $1,750,000,000. The property consists of 14,414 units, with a price per unit of $121,409. The sale took place on February 25, 2021, involving the buyer Morgan Properties, represented by Jonathan Morgan and the seller Star Real Estate Ventures, which is composed of El-Ad National Properties and Yellowstone Portfolio Trust. The property is situated in an area that spans Florida, Texas, North Carolina, South Carolina, Louisiana, Michigan, Illinois, Indiana, Ohio, and Maryland.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $1,750,000,000
• Address: 1019 Kaliste Saloom Rd
• Units: 14,414
• Price Per Unit: $121,409

Morgan Properties, led by Jonathan Morgan, joined forces with Olayan America in the acquisition. On the other side of the deal, Star Real Estate Ventures, which comprises El-Ad National Properties and Yellowstone Portfolio Trust, acted as the seller. Noteworthy individuals involved in the transaction include Yitzhak Tshuva, Khaled Olayan, Mitchell Morgan, Lubna Olayan, and Hutham Olayan.