The Michaels Organization on Sept. 7 said it closed on the privatized housing assets of eight military installations, totaling more than 15,000 homes. The military housing communities include the on-post family housing for Army, Navy and Air Force families on both coasts.

With this acquisition, the single largest in its history, Camden-based Michaels’s military living ownership portfolio has increased to just over 18,000 homes. And, as part of it, Michaels welcomed 53 new employees to its team.

“We are honored that the Department of Defense has entrusted us with this opportunity to house heroes and lift the lives of their families,” said John O’Donnell, Michaels’ chief executive officer. “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.”

With the acquisition complete, Michaels now owns, manages, and asset manages 11 different military housing locations serving Army, Navy and Air Force personnel and their families across the country in Florida, California, Maryland, Virginia, Georgia, Kansas and Arizona.

In addition to O’Donnell, the acquisition effort was led by Michaels Chief Operating Officer Mark Morgan, Executive Vice President of Development Michael Flanagan, Vice President of Capital Markets Cristhian Codorniu, President of Michaels Management Kimberlee Schreiber, and Senior Vice President of Management Sherri Farris, with support from the company’s entire Military Housing management team.

Jefferies LLC served as advisor and placement agent.