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Buffalo

Federal prosecutors are seeking to add to their case against indicted Rochester real estate developer Robert C. Morgan, who won't go on trial for the criminal mortgage fraud charges he faces until early 2021 – more than a year and a half after the charges against him and three other defendants were handed down. Morgan; his son Todd; his former finance chief, Michael Tre…

Buffalo

Morgan Communities, the real estate company owned by embattled Rochester developer Robert C. Morgan, has completed the sale of about half of its portfolio –  about 80 properties, including five in the Buffalo area – to a similarly named, but separate firm in Pennsylvania. The deal with Morgan Properties of King of Prussia, Pa., includes 15,000 apartment units, across ei…

Buffalo

TM Montante Development is buying out the family of Rochester developer Robert C. Morgan from the first part of its larger Gates Circle project, clearing the way for the Buffalo firm to begin work early next year on the renovation of a medical office building at 1275 Delaware Ave. But progress on the firm's other proposal – for a six-story new building that was already …

Business

A Rochester developer who faces federal mortgage fraud charges connected to apartments in Buffalo and other cities has pushed back the sale of a significant part of his real estate portfolio until later this month. Robert C. Morgan now expects to complete the sale to a joint venture with a Pennsylvania company by the middle of this month, according to his attorney, gene…

Business

Rochester developer Robert C. Morgan is already free to sell or transfer his properties without interference from government prosecutors, even without a desired court order, a federal court said this week. Attorneys for Morgan and other developers had sought the court's intervention because they said the government's words and actions were hindering their ability to sel…

Business

National mortgage finance company Fannie Mae and a major provider of title insurance for commercial properties are ordering extra scrutiny for any new purchase or refinance transactions involving properties owned by Rochester developer Robert C. Morgan. The new directives from Washington, D.C.-based Fannie Mae and Stewart Title Insurance Co. demonstrate a tightening of …

Buffalo

A suburban Rochester lender who has worked frequently with developer Robert C. Morgan is now turning on its embattled partner, suing Morgan in state court for failing to pay more than $9 million in unsecured loans related to Morgan's real estate ventures. Monroe Capital Inc., through its U.S. Income Partners LLC affiliate, filed suit in Monroe County Supreme Court late …

Business

Robert C. Morgan, the embattled Rochester developer who faces federal mortgage fraud charges, has transferred about half of his properties to a joint venture with a Pennsylvania company, according to court documents. An affiliate of the joint-venture partner also has taken over management of at least one of the properties, according to the documents. The joint-ventur…

Buffalo

Rochester developer Robert C. Morgan has sold the Cheektowaga property containing the area's first Chick-fil-A restaurant, reaping $2.825 million in cash from the deal. Morgan — through Morgan Cheektowaga LLC — sold the restaurant at 1753 Walden Ave. to Bruce 5 LLC, which is controlled by Bernadette O'Connor of Long Island City in Queens. Located just west of the Wal…

Business

If the Securities and Exchange Commission was hoping for quick action against Robert C. Morgan, there are signs it won’t get its way. The federal agency last month filed a securities fraud lawsuit against the Rochester developer, accusing him of running a “Ponzi-scheme-like" operation that used newer investments to pay off earlier investors and loans instead of buying p…

Business

A federal judge on Wednesday denied a request by the U.S. Securities and Exchange Commission to freeze the assets of Rochester developer Robert C. Morgan as the government pursues its securities fraud case against him. But U.S. District Court Judge Elizabeth Wolford allowed other protections, including issuing a temporary restraining order barring litigation against Mor…

Watchdog

Mike Donoghue has known Rochester developer Robert Morgan for more than a decade, as a personal friend and a partner in a relocation business. So it was only natural five years ago for the owner and president of Rochester-based Premium Mortgage to put $500,000 of his own money into investment funds that Morgan had just started. "I knew he had funds, and I asked if I co…

Business

A proposed deal to sell the management of Robert C. Morgan's apartment communities to a Virginia company has fallen through. Norfolk, Va.-based Harbor Group International had been in talks with Morgan Communities to acquire the management rights to Morgan's 140 properties in 14 states. The potential deal was intended to "stabilize" the Morgan portfolio of 36,000 apar…

Buffalo

Rochester developer Robert C. Morgan is facing criminal charges and a separate federal lawsuit accusing him of mortgage, insurance and securities fraud. Now, an attempt by the Securities and Exchange Commission to freeze Morgan's assets has made it difficult for him to retain a defense team, attorney Joel M. Cohen told a federal magistrate on Wednesday. Morgan, found…

Business

One of the nation's largest commercial banks is now trying to foreclose on two of Robert C. Morgan's apartment complexes in upstate New York – including the Raintree Island Apartments in the Town of Tonawanda – even as a federal grand jury indicted Morgan and his finance director on mortgage and insurance fraud charges. U.S. Bank, a subsidiary of Minneapolis-based U.S. …