Spruce Properties and New Urban Residential have joined forces in a strategic partnership aimed at maximizing returns for investors across their respective portfolios. With Spruce Properties managing 4,000 rental units in Indiana, Iowa, Kansas, and Missouri and New Urban Residential operating 550 units in the Carolinas, this collaboration brings together two highly experienced real estate firms.
Headquartered in New York City as part of Spruce Capital Partners, Spruce Properties is known for its expertise in real estate investment. Meanwhile, rebranded from Wolf Multifamily Investments to better reflect its focus on urban areas with high growth potential ,New Urban Residential will be based out of New York with regional offices located strategically throughout Raleigh NC and Kansas City MO to oversee operations within the Mid & South Atlantic as well as Midwest markets.
According to Robert Schwartz – co-founder of Spruce Capital Partners – this partnership holds immense potential for creating synergies that will drive both companies towards further success by expanding their acquisitions portfolio not just within the sun belt but also nationwide. “We are committed to deploying patient capital,” adds Joshua Crane who is also a Co-Founder at Spruce Capital Partners,”and our conservative long-term business plan ensures superior risk-adjusted returns.”
The announcement about this exciting new venture between these two industry leaders was made recently without any mention being made about Connect CRE or any other specific location such as LA or Texas.
