HUNTINGTON, N.Y., Jan. 21,
2025 /PRNewswire/ -- URS Capital Partners, a leading
private real estate investment firm, is pleased to announce a year
of substantial growth and strategic accomplishments in 2024,
positioning the company for continued success in 2025.
2024 Acquisitions and Portfolio Expansion
In 2024, URS Capital Partners capitalized on market
opportunities resulting from rising interest rates and increased
supply, completing four acquisitions encompassing six properties
and 736 units across North
Carolina and South
Carolina. Notably, five of these assets were acquired
through loan assumptions with an average interest rate of
approximately 4.5% and over five years of term remaining. In
addition, URS acquired a distressed 125-unit asset in Wilmington NC for all cash and closed in 27
days from contract. These strategic acquisitions have expanded
URS's portfolio to over 2,300 units across 12 properties, with an
average property age of less than 20 years.
Successful Refinancing Initiatives
URS successfully refinanced two significant assets despite a
challenging interest rate environment:
- The Exchange at Rock
Hill: A 229-unit development completed in 2022, was
refinanced with a $27.9 million loan
at a fixed interest rate of 5.66% for seven years, featuring
full-term interest-only payments.
- Crescent Place: A 232-unit property in Savannah, Ga. underwent a $5 million renovation in 2024, was refinanced
with a $31.4 million loan at a fixed
interest rate of 5.71% for five years, including two years of
interest-only payments.
Strategic Asset Dispositions
URS completed the sale of two assets in 2024:
- Latitude at Richmond
Hill: A 192-unit property in the Savannah, GA MSA, held for 54 months and sold
for $42.75 million, achieving a
project IRR of 29% and an equity multiple of 2.69x.
- Farmhouse Downs: A 220-acre parcel in Murfreesboro, TN, entitled for 391
single-family lots over two years and sold to a public home
builder, realizing an unlevered IRR of 8% and an equity multiple of
1.22x.
"Since 2020, URS has successfully sold 12 assets,
representing over $330 million in
real estate value," said Chris Urso,
Managing Partner at URS Capital Partners. "These strategic
dispositions have enabled us to focus on rebuilding our portfolio
with higher-quality assets that support our long-term growth
strategy and create sustained value for our investors."
2025 Market Outlook and Growth Plans
Looking ahead, URS Capital Partners is prepared to seize
opportunities in the multifamily market as conditions evolve:
- Strategic Acquisitions: With strong capitalization and no
upcoming loan maturities, URS plans to deploy capital strategically
in 2025. The firm intends to target high-quality assets in key
markets, with an emphasis on properties benefiting from favorable
demographics, job growth, and rent growth potential.
- Investment Focus: URS is particularly focused on markets where
demand for workforce and lifestyle-oriented housing will begin to
outpace supply once again. The firm is actively pursuing assets
with compelling upside opportunities through renovations,
operational efficiencies, and/or market repositioning.
"2025 represents a pivotal moment for URS Capital Partners as we
continue to build on our success," said Christopher Urso Managing
Partner at URS Capital Partners. "We are focused on disciplined,
strategic acquisitions that align with our long-term vision of
delivering strong returns for our investors while meeting the
housing needs of growing communities."
Adding to this vision, Christopher
Gorman, Managing Director of Investments at URS Capital
Partners, remarked, "Our commitment to thoughtful investment and
operational excellence ensures we're not only prepared to weather
market fluctuations but also poised to thrive on the opportunities
ahead in 2025 to further expand our portfolio."
Positioned for Long-Term Success
As the multifamily market navigates peak supply levels in the
first half of 2025, URS anticipates an eventual rebound in rent
growth and demand over the next 24 to 36 months. The company's
patient approach, operational expertise, and prudent leverage
strategy ensure its readiness to capitalize on the next growth
cycle.
About URS Capital Partners
URS Capital Partners is a private real estate investment firm
specializing in the acquisition and management of multifamily
properties. With a focus on strategic growth and value creation,
URS has built a diversified portfolio of high-quality assets,
delivering strong returns for its investors.
For more information, please visit
www.urscapitalpartners.com.
Media Contact:
Rebecca Windsor
URS Capital Partners
Phone: 631-683-5176 ext 103
Email: 389044@email4pr.com
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SOURCE URS Capital Partners
