URS Capital Partners Achieves Significant Milestones in 2024 and Sets Strategic Vision for 2025

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: [email protected]

SOURCE URS Capital Partners