{"id":1004118137,"date":"2015-04-23T12:19:47","date_gmt":"2015-04-23T20:19:47","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=339517"},"modified":"2020-04-14T03:29:41","modified_gmt":"2020-04-14T11:29:41","slug":"jv-buys-383-unit-towson-apartment-community-for-44-2m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jv-buys-383-unit-towson-apartment-community-for-44-2m\/","title":{"rendered":"JV Buys 383-Unit Towson Apartment Community for $44.2M"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/04\/Colony-at-Kenilworth.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-339795\" title=\"Colony at Kenilworth\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/04\/Colony-at-Kenilworth.jpg\" alt=\"\" width=\"300\" height=\"225\" \/><\/a>Morgan Properties has made another large multifamily purchase in the Greater Baltimore area. In a joint venture with DRA Advisors LLC of New York, the King of Prussia-based company has now acquired The Colony at Kenilworth, an apartment community located in Towson.<\/p>\n<p style=\"text-align: justify;\">The purchase price was not disclosed. However, according to documents filed with the Securities and Exchange Commission, National Property Investors 6, a California limited partnership, sold the property to the joint venture for a total price of $44.2 million. Jones Lang LaSalle represented the seller in the transaction.<\/p>\n<p style=\"text-align: justify;\">The Colony was constructed in 1967. It is located at 1 Bonrock Court, close to numerous attractions, such as Towson University, the 1.1-million square foot Towson Town Center and the <a href=\"https:\/\/www.commercialsearch.com\/news\/cities\/baltimore\/greenberg-gibbons-to-renovate-the-shops-at-kenilworth-3\/1004114151.html\" target=\"_blank\"><em>Shops at Kenilworth<\/em><\/a><em>, <\/em>which is currently undergoing a $20 million renovation. The property offers 383 one-, two- and three-bedroom garden style apartments and townhomes, as well as a fitness center, a swimming pool and other amenities.<\/p>\n<p style=\"text-align: justify;\">The Colony is the third acquisition made by the Morgan-DRA joint venture in the area. Now, the new owners plan to start work on a renovation project for the property, to upgrade unit interiors and to improve common area amenities. Morgan did not reveal the cost of the project but it did say in a news release that, once the renovation is finished, the Colony will offer its residents \u201done of the most comprehensive amenity packages in the Towson submarket.\u201d<\/p>\n<p style=\"text-align: justify;\">In recent years, Morgan has purchased several other properties in the Baltimore-Washington area, in joint venture with other partners. <a href=\"https:\/\/www.multihousingnews.com\/cities\/baltimore\/morgan-properties-and-olayan-purchase-the-preserve-at-owings-crossing-2\/1004112317.html\" target=\"_blank\" rel=\"nofollow\"><em>The Preserve at Owings Crossing<\/em><\/a>, <a href=\"https:\/\/www.multihousingnews.com\/headlinenews\/morgan-properties-core-real-estate-acquire-700-unit-community\/1004105884.html\" target=\"_blank\" rel=\"nofollow\"><em>The Lighthouse at Twin Lakes<\/em><\/a><em>,<\/em> and<em> <\/em><a href=\"https:\/\/www.multihousingnews.com\/cities\/baltimore\/joint-venture-acquires-baltimore-area-500-unit-multifamily-portfolio\/1004094876.html\" target=\"_blank\" rel=\"nofollow\"><em>the 500-unit Windsor Mill Portfolio<\/em><\/a><em> <\/em>are some of them. <em>\u00a0<\/em><\/p>\n<p style=\"text-align: justify;\"><em>\u00a0<\/em><\/p>\n<p style=\"text-align: justify;\"><em>Photo credit: <\/em><a href=\"https:\/\/www.morgan-properties.com\" target=\"_blank\" rel=\"nofollow\"><em>Morgan Properties<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Morgan Properties has made another large multifamily purchase in the Greater Baltimore area. In a joint venture with DRA Advisors LLC of New York, the King of Prussia-based company has now acquired the The Colony at Kenilworth, an apartment community located in Towson.<\/p>\n","protected":false},"author":925,"featured_media":1004507047,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1579,21742],"tags":[],"class_list":["post-1004118137","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-baltimore","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>JV Buys 383-Unit Towson Apartment Community for $44.2M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/jv-buys-383-unit-towson-apartment-community-for-44-2m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JV Buys 383-Unit Towson Apartment Community for $44.2M\" \/>\n<meta property=\"og:description\" content=\"Morgan Properties has made another large multifamily purchase in the Greater Baltimore area. In a joint venture with DRA Advisors LLC of New York, the King of Prussia-based company has now acquired the The Colony at Kenilworth, an apartment community located in Towson.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/jv-buys-383-unit-towson-apartment-community-for-44-2m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-04-23T20:19:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-14T11:29:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Colony-at-Kenilworth.jpg?w=1024\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adrian Maties\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-383-unit-towson-apartment-community-for-44-2m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-383-unit-towson-apartment-community-for-44-2m\\\/\"},\"author\":{\"name\":\"Adrian Maties\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/6dfc8d1c9006c9fd1c89d69133130109\"},\"headline\":\"JV Buys 383-Unit Towson Apartment Community for $44.2M\",\"datePublished\":\"2015-04-23T20:19:47+00:00\",\"dateModified\":\"2020-04-14T11:29:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-383-unit-towson-apartment-community-for-44-2m\\\/\"},\"wordCount\":286,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-383-unit-towson-apartment-community-for-44-2m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/Colony-at-Kenilworth.jpg\",\"articleSection\":[\"Baltimore\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-383-unit-towson-apartment-community-for-44-2m\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-383-unit-towson-apartment-community-for-44-2m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-383-unit-towson-apartment-community-for-44-2m\\\/\",\"name\":\"JV Buys 383-Unit Towson Apartment Community for $44.2M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-383-unit-towson-apartment-community-for-44-2m\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-383-unit-towson-apartment-community-for-44-2m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/Colony-at-Kenilworth.jpg\",\"datePublished\":\"2015-04-23T20:19:47+00:00\",\"dateModified\":\"2020-04-14T11:29:41+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/6dfc8d1c9006c9fd1c89d69133130109\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-383-unit-towson-apartment-community-for-44-2m\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-383-unit-towson-apartment-community-for-44-2m\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-383-unit-towson-apartment-community-for-44-2m\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/Colony-at-Kenilworth.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/Colony-at-Kenilworth.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-383-unit-towson-apartment-community-for-44-2m\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"JV Buys 383-Unit Towson Apartment Community for $44.2M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/6dfc8d1c9006c9fd1c89d69133130109\",\"name\":\"Adrian Maties\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/5d44b73a0d511e855d0ea5f29d28e7d8527c86a0c6c0f67be8f2e9642a9d9e8d?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/5d44b73a0d511e855d0ea5f29d28e7d8527c86a0c6c0f67be8f2e9642a9d9e8d?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/5d44b73a0d511e855d0ea5f29d28e7d8527c86a0c6c0f67be8f2e9642a9d9e8d?s=96&d=mm&r=g\",\"caption\":\"Adrian Maties\"},\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/adrianmaties\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"JV Buys 383-Unit Towson Apartment Community for $44.2M - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/jv-buys-383-unit-towson-apartment-community-for-44-2m\/","og_locale":"en_US","og_type":"article","og_title":"JV Buys 383-Unit Towson Apartment Community for $44.2M","og_description":"Morgan Properties has made another large multifamily purchase in the Greater Baltimore area. In a joint venture with DRA Advisors LLC of New York, the King of Prussia-based company has now acquired the The Colony at Kenilworth, an apartment community located in Towson.","og_url":"https:\/\/www.commercialsearch.com\/news\/jv-buys-383-unit-towson-apartment-community-for-44-2m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2015-04-23T20:19:47+00:00","article_modified_time":"2020-04-14T11:29:41+00:00","og_image":[{"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Colony-at-Kenilworth.jpg?w=1024","width":1024,"height":1024,"type":"image\/jpeg"}],"author":"Adrian Maties","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/jv-buys-383-unit-towson-apartment-community-for-44-2m\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/jv-buys-383-unit-towson-apartment-community-for-44-2m\/"},"author":{"name":"Adrian Maties","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6dfc8d1c9006c9fd1c89d69133130109"},"headline":"JV Buys 383-Unit Towson Apartment Community for $44.2M","datePublished":"2015-04-23T20:19:47+00:00","dateModified":"2020-04-14T11:29:41+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/jv-buys-383-unit-towson-apartment-community-for-44-2m\/"},"wordCount":286,"commentCount":0,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/jv-buys-383-unit-towson-apartment-community-for-44-2m\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Colony-at-Kenilworth.jpg","articleSection":["Baltimore","News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.commercialsearch.com\/news\/jv-buys-383-unit-towson-apartment-community-for-44-2m\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/jv-buys-383-unit-towson-apartment-community-for-44-2m\/","url":"https:\/\/www.commercialsearch.com\/news\/jv-buys-383-unit-towson-apartment-community-for-44-2m\/","name":"JV Buys 383-Unit Towson Apartment Community for $44.2M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/jv-buys-383-unit-towson-apartment-community-for-44-2m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/jv-buys-383-unit-towson-apartment-community-for-44-2m\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Colony-at-Kenilworth.jpg","datePublished":"2015-04-23T20:19:47+00:00","dateModified":"2020-04-14T11:29:41+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6dfc8d1c9006c9fd1c89d69133130109"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/jv-buys-383-unit-towson-apartment-community-for-44-2m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/jv-buys-383-unit-towson-apartment-community-for-44-2m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/jv-buys-383-unit-towson-apartment-community-for-44-2m\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Colony-at-Kenilworth.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Colony-at-Kenilworth.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/jv-buys-383-unit-towson-apartment-community-for-44-2m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"JV Buys 383-Unit Towson Apartment Community for $44.2M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6dfc8d1c9006c9fd1c89d69133130109","name":"Adrian Maties","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/5d44b73a0d511e855d0ea5f29d28e7d8527c86a0c6c0f67be8f2e9642a9d9e8d?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/5d44b73a0d511e855d0ea5f29d28e7d8527c86a0c6c0f67be8f2e9642a9d9e8d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/5d44b73a0d511e855d0ea5f29d28e7d8527c86a0c6c0f67be8f2e9642a9d9e8d?s=96&d=mm&r=g","caption":"Adrian Maties"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/adrianmaties\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Colony-at-Kenilworth.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004118137","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/925"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004118137"}],"version-history":[{"count":3,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004118137\/revisions"}],"predecessor-version":[{"id":1004417050,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004118137\/revisions\/1004417050"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004507047"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004118137"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004118137"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004118137"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}