SAN DIEGO, CA - Morgan Holdings is celebrating its 60th year in business spanning three generations of Morgans. The multifamily development company is the keystone of a real estate realm based in San Diego County with projects across the country built upon one strong principle: family is the foundation.
The patriarch, Bill Morgan, is a Holocaust survivor who escaped a ghetto in German-occupied Poland when he was 16 with Christian identification papers from a close friend. He was the only survivor of some 600 Jews in his village. After the end of World War II, he changed his name again, came to America and started building and renting homes.
By the early 1980s his company had amassed a multi-million-dollar portfolio. His sons grew up working on construction sites or collecting rent and eventually took over the operation. “I was very pleased to see my sons follow in my footsteps and continue the family business,” said Bill Morgan, who is now 94. “It fills me with so much pride today as I watch my grandsons do the same.”
His oldest son, Ronnie Morgan, helped grow the business into one of the top 50 private apartment developers in the nation before expanding into other real estate ventures. Over the past 35 years, Ronnie Morgan has been involved in the development of some 15,500 apartment units with a total value exceeding $2 billion.
“My father taught me the importance of hard work, integrity and building quality at a young age,” Ronnie Morgan said. “It was a natural progression to stay in the development business. My sons have the same passion for creating beautiful living environments, and I am gratified they are keeping the Morgan family tradition thriving.”
Ronnie Morgan’s two sons Ryan and Blake are part of the Morgan Holdings leadership team, bringing the third generation of developers into the family business.
After graduating from the University of Southern California in 2010, Ryan Morgan co-founded Alegria Real Estate, which bought foreclosed homes in the aftermath of the recession and rented them to families who needed a home, much like the original Morgan did after the war. With over 400 transactions, Alegria became one of the largest buyers of single-family homes in San Diego County.
Ryan Morgan not only plays a leading role in the family’s current multifamily businesses, he also co-founded Broken Arrow Spirits, a grain-to-bottle bourbon distillery. His entrepreneurial forte is that of inspiration.
“I believe in crafting A+ lifestyles for the people living in the apartments and townhomes Morgan Holdings develops,” said Ryan Morgan. “I’m always looking for AAA locations where we can build imaginative and relevant lifestyle experiences.”
The younger son, Blake Morgan, is now in charge of an infill project in San Diego with nine custom homes he is taking from concept to completion. “I enjoy every aspect of real estate development,” said Morgan, who also is an experienced surfer and professional musician with a private pilot license. “Building unique design features into affordable family living is always my priority.”
As Morgan Holdings marks 60 years of the family business, there is a strong foundation to build for the next generation. At the helm is the passionate and creative third wave of Morgans who aspire to set a new industry bar for tomorrow’s unique and innovative multi-use, multifamily developments.