URS Capital Partners Acquires Distressed Wilmington, NC Asset for All Cash

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Oct 28, 2024, 08:39 ET

HUNTINGTON, N.Y., Oct. 28, 2024 /PRNewswire/ -- URS Capital Partners, a prominent player in the real estate investment sector, has successfully acquired The Park at Village Oaks, a 126-unit apartment community located in Wilmington, North Carolina. The property, faced significant challenges at the time of closing, with occupancy rates at a mere 45%. Demonstrating its commitment to swift and strategic investments, URS Capital Partners completed the transaction in just 27 days from contract to closing, responding to the imminent maturity of the existing loan. The property will be immediately rebranded to "The Flats at Leland."

Since 2019, URS Capital Partners has made a name for itself by liquidating 15 assets at peak market pricing. In a strategic pivot, the firm is now focused on rebuilding its portfolio, with The Park at Village Oaks marking their third acquisition in 2024. Furthermore, URS is poised to finalize a fourth acquisition by the end of October.

"This acquisition represents the exact profile of assets that we built our business on over the years, and we are very excited to enter the Wilmington, NC market," said Christopher Urso, Managing Partner of URS Capital Partners. "We understand the sensitivity of timing and surety of closing in this environment. I believe we have proven to the market that we have the ability to deploy a meaningful amount of equity in a short period of time to get complicated deals completed."

With a track record of acquiring 29 value-add and opportunistic apartment communities totaling over 4,600 units, URS Capital Partners continues to establish itself as a leader in the real estate investment landscape. In addition to their acquisition strategy, the firm is also an active developer of Class A institutional-quality assets, having developed over 1,090 units since 2019.

Urso added, "We are grateful to have such a committed investor base that believes in our thesis and allows us to move quickly when the right opportunities arise. Our goal is to continue building our portfolio into 2025, with aspirations to acquire an additional 4-5 assets within our current geographic markets."

For more information about URS Capital Partners and their investment strategy, visit https://urscapitalpartners.com

About URS Capital Partners:

URS Capital Partners is a real estate investment firm based in Huntington, NY, specializing in value-add and opportunistic multifamily assets. With a proven track record of successful acquisitions and developments, URS is dedicated to maximizing investor returns while revitalizing communities across the United States.

Contact: Rebecca Windsor
URS Capital Partners
Huntington, NY
Phone: 631-683-5176 ext 103
Email: [email protected]
Website: https://urscapitalpartners.com

SOURCE URS Capital Partners