New Urban Residential is proud to be part of a strategic partnership with Spruce Properties, combining operational expertise and investment experience across a growing multifamily portfolio totaling approximately 4,550 apartment homes.
A Partnership Built for Growth
Spruce Properties, together with its affiliate S3 Capital, is part of Spruce Capital Partners, a New York-based real estate investment firm with an established track record of acquiring, operating, and repositioning multifamily assets throughout the Midwest.
New Urban Residential brings extensive experience in workforce and attainable housing, asset repositioning, operational management, and value creation throughout the Carolinas and Mid-Atlantic region.
By combining Spruce's acquisition capabilities and investment expertise with New Urban Residential's hands-on operational platform, the partnership creates a powerful foundation for continued expansion into high-growth markets across the United States.
"Our expectation is that by combining operations, we will strengthen our ability to deliver value to existing and new investors," said Seth Wolfman, Founder and President of New Urban Residential.
The partnership strengthens New Urban Residential's position as a vertically integrated owner and operator focused on workforce and attainable housing while expanding its presence across key growth markets throughout the Midwest, Mid-Atlantic, and Southeast regions.
By aligning with an experienced multifamily investment platform, New Urban Residential is positioned to leverage greater operational efficiencies, broaden acquisition opportunities, and continue delivering exceptional asset management and property operations. The partnership reflects a shared commitment to long-term value creation, disciplined growth, and preserving quality housing for residents across the portfolio.
As New Urban Residential continues to expand its footprint, the company remains focused on operational excellence, strategic acquisitions, and enhancing the performance of the communities entrusted to its management.