The Michaels Organization, a residential real estate development and management firm based in Camden, has completed the largest single acquisition in its history.
Michaels acquired more than 15,000 privatized military homes on eight Army, Navy and Air Force installations on both coasts, the company said in a news release.
“We are honored that the Department of Defense has entrusted us with this opportunity to house heroes and lift the lives of their families,” Michaels CEO John J. O’Donnell said. “We are honored to serve those who serve our country and their families, and we are grateful to the military’s leadership and our financial partners, whose support made this opportunity possible.”
Michaels now owns and manages 11 different military housing locations nationwide, and its military living ownership portfolio has increased to more than 18,000 homes, the company said.
Jefferies LLC served as adviser and placement agent, Michaels said.