URS Capital Partners Marks Major Growth and Sets Plans for 2025 Success

HUNTINGTON, N.Y., January 21, 2025 — URS Capital Partners, a prominent player in the private real estate investment sector, announced a remarkable year of growth in 2024, having successfully seized strategic opportunities to expand its portfolio and improve its market positioning for the upcoming year.

2024: A Year of Expansion

In response to rising interest rates and abundant market supplies, URS Capital Partners executed four key acquisitions, encompassing six properties, and adding a total of 736 units across the states of North Carolina and South Carolina. A standout transaction was the all-cash acquisition of a distressed 125-unit property in Wilmington, NC, completed in just 27 days from the contract date. Furthermore, most acquisitions were financed through loan assumptions, achieving an average interest rate of around 4.5%, with over five years remaining on their terms. As a result of these moves, URS’s portfolio now exceeds 2,300 units across 12 properties, with a youthful average property age of less than 20 years.

Navigating the Interest Rate Landscape

Despite the headwinds posed by the challenging interest rate environment in 2024, URS Capital Partners demonstrated resilience and strategic acumen in refinancing two significant assets. The Exchange at Rock Hill, a 229-unit development completed in 2022, was refinanced with a $27.9 million loan at a fixed rate of 5.66% for seven years, benefiting from full-term interest-only payments. In a similar vein, Crescent Place, a 232-unit property in Savannah, Georgia, which underwent a $5 million renovation, was refinanced with a $31.4 million loan at a 5.71% fixed interest rate for five years, including two years of interest-only payments.

Successful Asset Dispositions

URS also strategically divested two assets in 2024, indicating a strong and calculated approach to resource management. Latitude at Richmond Hill, a 192-unit property located in the Savannah MSA, was sold for $42.75 million after being held for just over four years, yielding a project internal rate of return (IRR) of 29% and an equity multiple of 2.69x. Equally significant was the sale of Farmhouse Downs, a 220-acre plot in Murfreesboro, TN, entitled for 391 single-family lots, which was sold to a public home builder, returning an unlevered IRR of 8% and an equity multiple of 1.22x.

Chris Urso, the Managing Partner at URS Capital Partners, commented, “Since 2020, we have successfully sold 12 assets valued at over $330 million, allowing us to concentrate on rebuilding our portfolio with premium quality assets that promote our long-term growth strategy and provide sustained value for our investors.”

Looking Towards 2025

As URS Capital Partners gazes into the future, it is gearing up to take advantage of evolving conditions in the multifamily market. With robust capitalization and no imminent loan maturities, the firm plans to deploy capital judiciously throughout 2025. URS is particularly focused on acquiring high-quality assets in strategic locations, paying close attention to demographics, job growth, and the potential for rental growth.

“2025 is pivotal for URS as we aim to further our success,” stated Christopher Urso, Managing Partner. He continued, “Our focus will remain on disciplined and strategic acquisitions that not only deliver strong returns for our investors but also cater to the housing needs of expanding communities.”

Further emphasizing this commitment was Christopher Gorman, Managing Director of Investments, saying, “Our focus on thoughtful investments and operational excellence ensures that we are not only prepared to navigate market fluctuations but also poised to seize the forthcoming opportunities in 2025 to broaden our influence even more.”

Long-Term Success on the Horizon

As the multifamily market braces for peak supply levels in the early part of 2025, URS anticipates a rebound in demand and rental growth within the subsequent two to three years. By adhering to a patient investment approach and leveraging operational know-how, the firm is well-equipped to take advantage of future growth cycles in the real estate market.

About URS Capital Partners

URS Capital Partners is dedicated to the acquisition and management of multifamily properties, positioned as a trusted name in the private real estate investment space. With a focus on strategic growth and the creation of added value, URS is committed to delivering promising returns for its investors through a diversified portfolio of high-quality assets. For additional information, please visit www.urscapitalpartners.com.