Wilshire Lane Capital, the California-based venture capital firm focused on the trending PropTech industry, announces a strategic partnership with Morgan Properties. Founded in 1985, Morgan Properties is the largest private multifamily owner in the United States, managing over $15 billion in assets and over 95,000 units. This strategic partnership gives Wilshire Lane Capital and its portfolio of PropTech companies, unparalleled access to Morgan Properties’ Innovation team, which is led by Senior Vice President of Corporate Strategy, Amy Weissberger. In working hand-in-hand with Morgan Properties’ Innovation and Operations teams, Wilshire Lane Capital will be well-positioned to identify the most viable startups to invest in while providing integration opportunities across the massive multifamily portfolio.
The rapidly growing PropTech (or Real Estate Tech) category has taken off with a record-breaking $32 billion of private investment flowing into the space in 2021, according to the Center for Real Estate Technology & Innovation. Adam Demuyakor, Founder and General Partner of Wilshire Lane Capital has previously invested in some of the preeminent companies in the space including unicorns VTS and Kitopi, as well as other promising companies such as Neighbor, Common, Saltbox, and Stuf Storage in his prior two funds. However, this partnership with Morgan Properties represents Wilshire Lane Capital’s first major foray into the multifamily segment of the sector.
“We are pleased to be an Anchor Investor and Strategic Partner in Wilshire Lane Capital’s newest Fund,” said Jason Morgan, Principal of Morgan Properties and President of Morgan Properties Special Situations. “Morgan Properties has always prided itself on being one of the most innovative multifamily owners in the country and this partnership will only bolster our ability to engage with and implement best-in-class technology solutions across our portfolio. Owners of real estate in all sectors who aren’t leveraging technology are falling behind – it is our competitive advantage. Adam and the Wilshire Lane Capital Team are best-in-class. Our collective partnership is unprecedented for our Company and the industry – together we are excited for the future of the PropTech sector.”
“We are beyond thrilled and excited to partner with Morgan Properties in our latest Fund” said Adam Demuyakor, Founder and Managing Partner of Wilshire Lane Capital. “In combining their sheer scale as the largest private multifamily landlord in the nation, and our unique value-add approach for partnering with the best early-stage startups in the PropTech space, I have no doubt that we will be able to manufacture massive win-win outcomes for our LPs and Morgan Properties’ residents.”
“As Millennials and Gen-Z increasingly represent the largest groups of renters in the United States, it is important now more than ever for multifamily owners and operators to invest in technology solutions that can improve the ease of living for the average person” Demuyakor said. “. It is a pleasure to now partner with Morgan Properties to find technology platforms that will enhance the overall experience for apartment residents, as well as owners and operators.”
Wilshire Lane Capital is in the midst of a fundraise for its Fund III. For more information, reach out to [email protected].
About Wilshire Lane Capital
Wilshire Lane Capital is an early-stage venture capital firm investing at the nexus of real estate and technology. As a go-to strategic partner for PropTech startups, WLC provides real estate value-add by leveraging deep industry connections and knowledge. For innovative real estate landlords and investors, WLC provides access to best-in-class technology solutions to improve real estate asset profitability.
About Morgan Properties:
Established in 1985 by Mitchell Morgan, Morgan Properties is a national real estate investment and management company headquartered in King of Prussia, Pennsylvania. Jonathan and Jason Morgan represent the next-generation leaders growing the platform and overseeing the business operations. Morgan Properties and its affiliates currently own and manage a multifamily portfolio comprised of over 350 apartment communities and 95,000 units located in 20 states, primarily in the Mid-Atlantic and the Northeast Region. The Company is the nation’s largest private multifamily owner and the second largest apartment owner in the country. Morgan Properties is the largest multifamily owner in Pennsylvania, Maryland, and New York. With over 2,600 employees, Morgan Properties prides itself on its quick decision-making capabilities, strong capital relationships and proven operational expertise.
Learn more about Morgan Properties at www.morganproperties.com.