Colliers brokered the sale of The Ridge Apartments at 1718 W. 55th Ave. in Merrillville, Indiana.
The sale was led by the Colliers team of Bryce Wetzel, Tyler Hague, Lauren Stoliar and Ryan Roegner, who represented the owner, Parkmont Group, a real estate investment and operating firm based in New York.
Originally developed between 1970 and 1981 and renovated in 2024, The Ridge features a variety of one- and two-bedroom floor plans with one, one-and-a-half, and two-bathroom layouts. Residents enjoy amenities including a pool with an expansive sundeck, landscaped courtyards, and on-site laundry facilities. The community is also conveniently located near U.S. 30, Interstate 65, and Northwest Indiana’s established retail and commercial corridor, providing access to major employment centers, educational institutions, and a wide range of shopping, dining, and entertainment options throughout the Chicago metropolitan area.
Morgan Properties, one of the nation’s largest multifamily owners and operators, acquired the community. Based in Conshohocken, Pennsylvania, the company owns and manages more than 100,000 apartment units nationwide and is recognized for its long-term investment strategy and focus on enhancing the resident experience.
