Morgan Group, a Houston-based apartment development, construction, acquisitions and property management company, is expanding to Dallas.
Stephen Frazee will lead multifamily development efforts as DFW City Partner and establish a Dallas office later this year. Frazee previously served as development manager for Dallas-based JPI, where he helped develop more than 5,500 apartment units with an aggregate value of $1 billion.
Morgan has one project in predevelopment in the north Texas metro area and is pursuing other opportunities. The company has active projects in Houston, Austin and San Antonio markets.
The Dallas-Fort Worth region is the largest apartment market in Texas, with nearly 787,000 units across 3,293 properties, according to ApartmentData.com. The Houston metro has nearly 694,000 units at 2,942 communities.
Founded in 1959, Morgan has developed more than 7,500 units in Texas. Its current portfolio consists of 10,000 units across Texas, California, Arizona, Colorado and Florida.
Publication: Houston Chronicle