What value can networking and social capital bring to Middle Market businesses?
As a second-generation leader at Morgan Properties, a privately-held real estate investment management firm with over $8 billion in assets under management, I’ve learned it’s all but impossible to meet business goals alone. The value of social capital for organizational growth should never be underestimated.
An effective leader is essential, but experience has shown me a business’s success is a direct result of its people. Companies across all industries typically see high upsides due to the cooperative efforts of strong internal teams comprised of talented players. An organization giving its employees the opportunity to collaborate internally and seize networking opportunities to improve the business – via digital platforms or in-person meetings- will achieve better results than a competitor that does not promote team building or industry-engagement.
I firmly believe there is no substitute for in-person interaction. At Morgan Properties we’ve successfully maintained a small-team feel despite our worldwide capabilities as a top multifamily owner throughout the country and the largest in Pennsylvania. The truth is, our people are our greatest assets. Team members are considered family, and we’re dedicated to helping them excel in and out of the office. To help new and site-level employees rise through the ranks to become Property Managers or Vice Presidents we offer internship programs, a property manager trainee program, and various professional development programs (PDPs) through Morgan University — the company-wide training program. Outside the office, we regularly send employees to industry events hosted by the Maryland Multi-Housing Association and more, for networking and learning opportunities.
Thanks in great part to our employees and these initiatives, 2018 was another incredible year and 2019 has been record-breaking. We’ve entered a new market, Tennessee, and continued to invest in the multifamily credit space. We’ve also made a difference in the communities we serve with the launch of our Caring.Sharing.Giving charitable initiative and enhanced our communication tools and practices, corporate branding, technology, amenities, and more. None of this would have been possible without peer-to-peer interaction.
Since 2011, Morgan Properties has more than doubled in size, acquiring over $5 billion in assets comprising over 30,000 units. Additionally, we have invested in subordinate, commercial mortgage-backed securities representing $4.6 billion of multifamily loans secured by over 52,000 units.
Our focus on facilitating professional development keeps employees engaged, spurs new ideas, and further ensures Morgan Properties will continue to grow, getting better with every acquisition.
Jason Morgan is a member of the Chamber’s Middle Market Action Team (MMAT), a consortium of leaders driving rapid growth in companies with annual revenues between $10M & $1B through targeted programs and strategies.
Middle Market Networking
Tuesday, June 25 | Yards Brewing Company
Meet middle market decision makers over beers and hors d’oeuvres. This gathering is intended for C-suite employees at middle market companies to build new middle market relationships and strengthen established ones.