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Spruce Properties Partners with New Urban Residential on MF Investment
Spruce Properties and New Urban Residential have announced a partnership to enhance value for investors at their existing properties and collaborate on new acquisitions. Spruce Properties manages 4,000 rental units in Indiana, Iowa, Kansas, and Missouri, while New Urban Residential operates 550 units in the Carolinas.
Spruce Properties, part of Spruce Capital Partners, is a New York-based real estate investment firm. New Urban Residential, rebranded from Wolf Multifamily Investments, will be headquartered in New York with regional offices in Raleigh, NC, and Kansas City, MO, to manage Mid & South Atlantic and Midwest markets.
“The partnership will create numerous synergies as we expand acquisitions and jointly grow our portfolio in the sun belt and throughout the country.” said Robert Schwartz, co-founder of Spruce Capital Partners. “We deploy patient capital and will continue to execute a conservative, long-term business plan to deliver superior risk-adjusted returns,” added Joshua Crane, also Co-Founder.
- ◦Development
- ◦Financing
