Mitchell L. Morgan, Guntram J. Weissenberger Jr., and a third investor who wishes to remain anonymous, will be added to the team’s ownership group. The families of Phillies Managing Partner and Chief Executive Officer John Middleton and Stan Middleman, limited partner in the Phillies ownership group, also will be contributing additional funds.

Mitchell L. Morgan is founder, chairman, and CEO of Conshohocken, Pa.-based Morgan Properties, a real estate investment management firm. His sons, Jonathan and Jason Morgan, oversee the day-to-day business operations of Morgan Properties. Morgan Properties owns a multifamily portfolio comprising over 96,000 units across more than 350 communities in 19 states. The company is the nation’s largest private multifamily property owner and the third-largest apartment owner in the country. Through the Morgan Family Foundation, Mitch, his wife Hilarie and their children, Jonathan, Brittany, and Jason, have supported countless philanthropic organizations in the Philadelphia area including a recent US$50 million donation to the Children’s Hospital of Philadelphia to create a state-of-the-art facility, the Morgan Center for Research and Innovation, and fund life-changing research. Mitch also serves as the chairman of the Board of Trustees of Temple University.

The Hogan Lovells deal team was led by Global Head of Sports and partner Matt Eisler (M&A, New York, Denver) and partner Steve Argeris (M&A, Washington, D.C., New York) with support from partners Mark Weinstein and Jessica Millett (both Tax, Pensions, & Benefits, New York), senior associates Joseph Erdos (Private Equity & Funds, New York) and Stephen Weinstein (Tax, Pensions, & Benefits, Washington, D.C.), and associate David Duquette (general Corporate & Finance, New York).