HUNTINGTON, NY – Headquartered in New York, URS Capital Partners is a private real estate investment firm that focuses on acquiring value add apartment communities throughout Southeast and Midwest.

URS has organically built its portfolio by working with private investors and proving its ability to reposition operationally challenged and/or undermanaged multifamily communities.

The second half of 2016 was an active six months for URS Capital Partners with the sale of three assets and the acquisition of three assets.

URS Capital Partners sold the three assets outlined below between August and November of 2016:

Reserve at Ashley River: $12,500,000 for 280 Units in North Charleston SC

Ashley Village Townhomes: $16,380,000 for 260 Units in North Charleston SC

Southside Square: $5,200,000 for 108 Units in Jacksonville FL

“Each property had undergone various levels of renovations and we had completed our business plans ahead of schedule. As a result we felt an opportunistic exit was the right choice for us and our investors. These sales allowed us to realize significant value ahead of proforma and redeploy capital into new value add opportunities within our targeted markets,” said Christopher Urso, Managing Partner.

In addition to the above noted sales URS Capital Partners bought three additional assets between August and December 2016.

Urban Flats: 66 Units in Downtown Louisville KY

Northlake Townhomes: 76 Units in North Charleston SC

Moss Pointe: 278 Units in Savannah GA

Christopher Urso stated, “We are very excited to have bought a diverse combination of assets over the last six months. Each asset represents a compelling value add through a combination of operational and capital improvement programs. Each property will receive anywhere from $5,000 -$10,000/unit of improvements including exterior, amenity and unit upgrades. The most notable achievement in the recent acquisitions was our expansion into Louisville and Savannah both of which have been target markets for several years and we hope to expand in the coming year.” 

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LANSDALE, PA – Greenfield Senior Living expanded its strong relationship with Care Investment Trust, a real estate investment company focused exclusively on the seniors housing sector, with the acquisition of Spring Meadows of Lansdale (to be known as “Greenfield Senior Living of Lansdale”). The newly renovated personal care and memory care community has 120 units and 150 licensed beds. Greenfield intends to grow census, and to transform the senior living experience for current and future residents through Greenfield’s signature programs and services.

Greenfield of Lansdale is a fully renovated community that consists of 64 personal care units and 56 memory care units. The community boasts a 7,500 square foot “Town Square,” where residents and families can gather and engage in various activities. This innovative central area connects key design elements from significant United States landmarks to help make every resident feels immediately at home. In addition to this unique space and advanced approach to community layout, Greenfield will add key care components and award-winning leadership models.

Mathew Peponis, Chief Executive Officer of Greenfield, stated “Greenfield Senior Living is honored to grow its relationship with Care. We are excited that the families and residents of Lansdale will now be enjoying the Greenfield signature experience. With our innovative programs and unique medical model of care, we will continue to transform the experience of senior living.”

Salvatore (Torey) Riso, President and Chief Executive Officer of Care, remarked, “Care is extremely pleased to partner with Greenfield once again. Having started our partnership with Greenfield in 2011, this most recent collaboration in Lansdale is confirmation that we can build a portfolio of communities that is beneficial for residents, staff, and the communities that we serve. Care is looking forward to continued growth with Greenfield in 2017 and well beyond.”

Greenfield Senior Living currently operates 20 communities with several in the Pennsylvania region, the closest being Greenfield Senior Living of Perkiomen Valley in Schwenksville, PA. Greenfield has an exceptional reputation for dedicating its time and heart to transforming the senior living experience, and making an atmosphere where seniors feel honored and celebrated. Care owns 30 communities across the country, including 6 in Pennsylvania and 13 of which are managed or operated by Greenfield.

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SALISBURY, MD – Campus First Student Living and CF Real Estate Services, have bought University Orchard, located less than one-half mile from the main campus of Salisbury University in Salisbury, MD. Salisbury University is part of the University System of Maryland. Campus First will be overseeing the management of this 648-bed property as well as a $600,000 property upgrade program. The property will continue to retain the name University Orchard.

Campus First will bring its boutique style approach and expertise in student property management to position the asset as Salisbury University’s premier off-campus student housing option. As part of the property upgrades, Campus First will be constructing a new dog park, add a large outdoor LED screen in the pool and terrace area, renovate the exterior and interior of the clubhouse, and enhance the fitness center and study areas.

Residents will be pleased with the upgraded internet and cable packages as well as the addition of VIP premium suites. The new premium option will include grey faux wood floors, painted interiors, and completely renovated kitchens with subway tile backsplashes, stainless steel appliances, new counter tops and kitchen hardware. The bathrooms will also be updated and the VIP suites will boast all new modern furniture packages and new large, flat screen televisions.

University Orchard is currently 99% leased for the 2015-16 lease year. The property was constructed in 2013, and features a resort style swimming pool, outdoor spa, separate game room, clubhouse, and volleyball and pickle ball courts. Unit interiors have faux wood flooring, bed-bath parity, black appliances, and are fully furnished.

“The Campus First team is excited about managing this property and turning this asset into the premier off-campus student property at University of Salisbury through its new management team and the plotted upgrade program,” states Christopher Feeley, President of Campus First.

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