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New York & Tri-State  + New York  + Finance  |  June 28, 2024
Emily Fu
By: Emily Fu

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. 

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Robert Schwartz

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
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