Our team recently attended the 5th Annual Interface Carolinas Multifamily Conference held at the Hilton Charlotte Uptown, joining multifamily owners, operators, developers, lenders, and industry partners from across the region for a day focused on the future of housing in the Carolinas.

As a company deeply committed to operational excellence and long-term asset performance, attending industry conferences like Interface Carolinas Multifamily is an important part of how we remain engaged in the markets we serve. These events provide valuable opportunities to strengthen relationships, exchange ideas, analyze evolving market trends, and stay ahead of the operational and economic factors impacting multifamily housing throughout the Southeast.

The conference featured discussions surrounding market fundamentals, capital markets, development trends, workforce housing demand, operational efficiencies, resident expectations, and the continued evolution of multifamily performance across both urban and suburban markets. With the Carolinas continuing to experience strong population growth and housing demand, these conversations are critical to understanding how owners and operators can continue to position assets for long-term success.

At New Urban Residential, we believe market engagement goes beyond simply managing communities — it requires active participation in the industry itself. By collaborating with peers, vendors, investors, and strategic partners, we are able to bring fresh insights, innovative ideas, and proactive strategies back to our teams and communities.

As the multifamily industry continues to evolve, New Urban Residential remains committed to being present, engaged, and forward-thinking in every market we serve.

The post Staying Engaged in the Markets We Serve appeared first on New Urban Residential Blog.

Hosted at The Union League Club, the conference brought together owners, operators, developers, investors, lenders, public agencies, and housing advocates from across the country to collaborate on one of the industry’s most important challenges: creating and preserving housing opportunities that remain attainable for working individuals and families. 

For our team, the conference served as a valuable opportunity to strengthen existing relationships and build new connections with stakeholders throughout the affordable and workforce housing sector — particularly with a number of organizations and industry leaders actively focused on growth and investment throughout the Carolinas. As housing demand continues to evolve across North Carolina and the broader Southeast, these conversations remain critical in shaping sustainable communities and identifying long-term opportunities for both residents and investors.

Several panel discussions highlighted themes that continue to influence housing strategy nationwide. Industry leaders discussed the growing importance of public-private partnerships, innovative financing structures, zoning reform, and scalable development strategies needed to address ongoing housing shortages. 

A recurring focus throughout the conference was the challenge of delivering attainable housing in a high-interest-rate environment while balancing construction costs, operational expenses, and long-term affordability. Panelists emphasized that collaboration between municipalities, developers, operators, and capital partners will be essential to expanding workforce housing inventory in rapidly growing markets such as the Carolinas. 

Additional discussions centered around:

• Creative capital stack strategies for affordable and workforce housing developments
• The increasing role employers are playing in workforce housing initiatives
• Preservation of existing affordable housing inventory
• Zoning modernization and land-use reform to support future housing expansion
• Scaling operations effectively through strategic partnerships and regional collaboration 

As a company committed to operational excellence and community-focused housing solutions, attending conferences such as IMN allows us to remain engaged with national trends, strengthen industry partnerships, and continue bringing innovative ideas back to the markets we serve.

We appreciate the opportunity to participate in these important conversations and look forward to continuing to collaborate with industry leaders dedicated to expanding attainable and workforce housing opportunities throughout the Carolinas and beyond.

The post Strengthening Partnerships and Advancing Housing Solutions at the IMN Attainable & Workforce Housing Conference appeared first on New Urban Residential Blog.

This distinction reflects the continued commitment of our on-site teams and leadership to deliver an exceptional resident experience, while maintaining strong operational performance across our portfolio.

Recognition Driven by Resident Experience

The Business Rate Top 10 designation is based on verified Google Reviews, resident feedback, and overall reputation performance, making it one of the most meaningful indicators of community success in today’s digital-first environment.

For Colony Townhomes, this recognition is a direct result of:

• Consistently high resident satisfaction
• Strong online reputation management
• Responsive service and maintenance execution
• A community-focused living experience

In an increasingly competitive Raleigh market, reputation and resident sentiment are critical drivers of leasing velocity, retention, and long-term asset performance.

A Reflection of Operational Excellence

Located in North Raleigh, Colony Townhomes continues to perform as a strong asset within the New Urban Residential portfolio. This award highlights the effectiveness of:

• On-site team leadership and accountability
• Standardized operational processes across communities
• Commitment to service-first property management
• Strategic focus on resident retention and engagement

At New Urban Residential, we recognize that strong financial performance begins with delivering a superior living experience—and this award reinforces that philosophy.

Strengthening Portfolio Value Through Reputation

Awards like this do more than recognize service—they directly contribute to asset value by:

• Enhancing market positioning
• Supporting premium rent potential
• Increasing renewal rates
• Strengthening brand credibility with residents and investors

As digital reputation continues to influence renter decision-making, maintaining a top-tier online presence remains a key component of our broader asset management strategy.

Looking Ahead

This recognition is not just a milestone—it is a benchmark.

New Urban Residential remains focused on continuing to elevate the resident experience across all communities, while driving operational consistency, performance, and long-term value creation throughout our portfolio.

The post Colony Townhomes Named a Top 10 Apartment Community in North Raleigh for 2026 appeared first on New Urban Residential Blog.

Seasonality in multifamily housing presents both challenges and opportunities, and our teams have spent the first quarter preparing our communities to capitalize on increased leasing traffic while continuing to drive long-term asset stability and revenue growth. Through a combination of operational excellence, targeted marketing strategies, and resident-focused initiatives, we are positioned to maximize occupancy, strengthen renewal performance, and maintain competitive market positioning across our portfolio.

Enhancing Our Digital Marketing Presence
Today’s renter journey begins online, making digital visibility more important than ever. Throughout Q1, we invested heavily in strengthening our digital marketing strategy through enhanced PPC campaigns, social media advertising, SEO optimization, Google Business Profile engagement, and improved lead response systems. By leveraging advanced marketing analytics and AI-powered leasing technology, our teams are ensuring prospects receive immediate engagement and seamless communication from the first point of contact through move-in.

In addition, our leasing teams continue to focus on conversion-driven strategies, including personalized follow-up campaigns, online reputation management, and optimized lead nurturing processes designed to improve tour-to-lease conversion ratios during peak leasing activity.

Investing in Curb Appeal and Asset Integrity
First impressions matter — especially during leasing season. Across the portfolio, we have prioritized exterior improvements, landscaping enhancements, pressure washing, painting, signage updates, amenity refreshes, and preventative maintenance projects to ensure each community presents at the highest possible standard.

Maintaining strong asset integrity not only improves resident satisfaction and retention, but also reinforces the value proposition prospective residents experience during community tours. Our maintenance and operations teams have worked diligently to proactively address deferred maintenance, improve common areas, and ensure our communities remain both visually appealing and operationally efficient.

Strategic Revenue Management and Competitive Positioning
Our teams continue to closely monitor market conditions, competitor pricing, concession trends, and local supply pressures to ensure our pricing strategies remain both competitive and revenue-focused. Through ongoing market comp evaluations and daily pricing analysis, we are strategically balancing occupancy goals with market-rate optimization.

As new supply continues to impact certain submarkets, our approach remains disciplined: maintain stability, protect long-term asset value, and maximize NOI through thoughtful leasing and renewal strategies rather than reactive pricing decisions.
Renewal retention remains a major focus entering Q2. By prioritizing resident experience, proactive communication, customer service excellence, and community engagement initiatives, we aim to further strengthen resident satisfaction and reduce unnecessary turnover costs during peak leasing activity.

Preparing for a Strong Leasing Season Ahead
Success during leasing season is never accidental — it is the result of preparation, adaptability, and execution. Our teams across the Carolinas remain focused on delivering exceptional resident experiences while driving strong operational performance for ownership groups and stakeholders.

With momentum entering Q2, disciplined operational strategies, and a continued focus on innovation and customer experience, we are confident in our ability to sustain portfolio stability, capitalize on seasonal demand, and continue delivering strong multifamily performance throughout 2026.

The post Positioned for Success: How We’re Entering Q2 Strong This Leasing Season appeared first on New Urban Residential Blog.

At New Urban Residential, innovation is not a trend—it is a commitment. As part of our continued focus on operational excellence and customer experience, we have strategically partnered with EliseAI, the leading AI platform in the multifamily industry.

Meeting Modern Demand with Intelligent Solutions

Today’s renters expect immediate responses, seamless communication, and convenience at every touchpoint. Traditional leasing models—reliant solely on office hours and manual follow-up—can no longer keep pace with these expectations.

AI bridges this gap.

Through our partnership with EliseAI, we have implemented an intelligent leasing assistant that ensures every prospect inquiry is acknowledged and responded to in real time—24 hours a day, 7 days a week. Whether a prospective resident submits an inquiry at noon or midnight, their experience remains consistent, professional, and prompt.

The result:

• No missed opportunities

• Faster response times

• Increased lead conversion

• A more seamless prospect journey

Empowering Our Teams to Focus Where It Matters Most

One of the most significant advantages of AI is not just what it does—but what it allows our teams to do better.

By automating routine communications such as:

• Initial leasing inquiries

• Appointment scheduling

• Frequently asked questions

• Follow-up messaging

…our on-site teams are freed from administrative tasks that traditionally consume a measurable amount of valuable time.

This operational efficiency allows our professionals to refocus their energy on high-impact priorities, including:

• Building meaningful resident relationships

• Delivering exceptional in-person customer service

• Proactively addressing resident needs

• Maintaining community standards and operations

In an industry built on people and service, this shift is critical. AI does not replace the human element—it enhances it.

Consistency, Accuracy, and Scalable Excellence

AI also introduces a new level of consistency across our portfolio. Every interaction—whether at one community or another—reflects the same high standard of professionalism, accuracy, and brand voice.

EliseAI’s platform ensures:

• Uniform and compliant communication

• Accurate information delivery

• Scalable leasing support across multiple assets

This consistency strengthens our brand while reducing the risk of miscommunication—an essential component of both operational success and resident satisfaction.

Driving Results in a Competitive Market

In today’s evolving market conditions, success requires both agility and precision. AI provides a competitive edge by enabling property management teams to operate more efficiently while capturing every leasing opportunity.

By ensuring that no lead goes unanswered, we are not only improving conversion rates—we are maximizing revenue potential across our communities.

This strategic advantage is especially impactful during high-volume leasing periods, where response speed and engagement can directly influence occupancy outcomes.

Looking Ahead: Innovation with Purpose

The integration of AI into property management is not a temporary shift—it is the future of the industry. At New Urban Residential, we are proud to be at the forefront of this evolution.

Our partnership with EliseAI reflects a deliberate investment in:

• Smarter operations

• Stronger resident experiences

• More empowered teams

• Sustainable, scalable growth

As technology continues to evolve, our focus remains unchanged: delivering exceptional communities, fostering meaningful relationships, and driving performance through thoughtful innovation.

A Better Experience for All

At its core, AI allows us to do what we do best—better.

• Prospects receive immediate, professional communication

• Residents benefit from more attentive, engaged teams

• Employees gain the time and tools to succeed

• Investors see improved operational efficiency and performance

This is not just advancement—it is alignment between technology and service.

And at New Urban Residential, that alignment defines the future we are building every day.

The post The Evolution of AI in Property Management: Elevating Performance Through Innovation appeared first on New Urban Residential Blog.

As we wrap up the first quarter of 2026, the multifamily real estate sector continues to demonstrate resilience and adaptability, even as market fundamentals soften modestly in certain markets. Strategic operators and savvy investors are uncovering opportunities in change — and positioning portfolios to benefit as the year progresses.

Rather than viewing these early-year dynamics as decline, leading operators are interpreting them as a period of necessary realignment — one that builds stronger, more intelligent portfolios in the months ahead.

How Property Management and Investors Are Preparing for Q2

For the property management community, Q1 served as an internal audit of process excellence and operational readiness. With Q2 fast approaching — historically the most active leasing season of the year — our teams are  diligently focused on:

• Enhancing Resident Experience: From upgraded amenity activations to streamlined AI tech implementations and digital leasing workflows, owners are investing in the touchpoints that drive lease execution velocity.

• Dynamic Pricing Strategies: More frequent market data analysis and algorithmic pricing tools help capture demand while maintaining competitiveness.

• Staff Training and Talent Development: Leasing teams are sharpening their consultative sales skills, pipeline management tactics, and conversion processes to capitalize on the season’s traffic surge.

Investors, likewise, are revisiting underwriting assumptions for Q2 and beyond — often with a positive long-term lens. Adjustments to rent growth expectations have been balanced by stronger confidence in job markets, wage growth, and the underlying demand drivers that favor multifamily over other asset classes.

Turning Toward a Positive 2026 Outlook

While the first quarter may not have delivered headline-grabbing rent acceleration, the industry is far from stagnant. Emerging trends suggest:

• Renewed Leasing Momentum in Q2: Historically, April through July account for the majority of leasing volume. With employment markets expanding and inventory constraints persisting, traffic and conversion are both projected to rise.

• Stabilizing Pricing Power: Softening mid-quarter is setting the stage for seasonal acceleration, particularly in high-growth metros where supply remains measured relative to demand.

• Investor Confidence: Capital continues to flow into core and core-plus multifamily, underpinning valuation stability and fueling long-term acquisition and redevelopment activity.

In fact, many institutional and private investors are leveraging Q1 data to refine target markets, accelerate value-add initiatives, and strengthen asset differentiation — all with the goal of capturing upside as 2026 progresses.

Looking Ahead: What This Means for You

As we move deeper into 2026, the multifamily sector’s narrative is one of strategic optimism. Legacy performance metrics may have changed slightly, but the backdrop of strong household formation, resilient employment growth, and disciplined management execution provides a foundation for robust gains.

Ultimately, the Q2 leasing season offers a reset: an opportunity to reengage renters with compelling offerings, capture seasonal demand, and translate operational excellence into measurable revenue growth. For investors and operators who prepare wisely — through data-driven decisions, targeted capital deployment, and relentless focus on resident value — the story of 2026 will be one of sustained performance and competitive advantage.

The post Q1 2026 Multifamily Market Insight: Finding Upside appeared first on New Urban Residential Blog.

The refinancing, secured through Freddie Mac’s Targeted Affordable Housing program, totaled over $6 million and reflects both the stability of the asset and the continued confidence of institutional lending partners in New Urban Residential’s operational performance and asset management approach.

Strategic Financing Structure

The transaction was structured with a focus on both near-term cash flow optimization and long-term value preservation, featuring:

• 7-Year Loan Term
• 5 Years Interest-Only (IO)
• 2% Rate Buydown
• Safe Harbor Tax Abatement

This capital structure provides enhanced flexibility during the early years of the loan while positioning the asset for continued performance in a dynamic interest rate environment. The interest-only period, in particular, supports improved cash flow, allowing for reinvestment into operations and strategic capital initiatives.

Asset Overview & Performance

Willow Bend is a 1993-vintage garden-style community consisting of 44 units with an average unit size of approximately 888 square feet.

At the time of refinancing, the property was operating at 95% occupancy, demonstrating strong demand fundamentals and effective on-site management.

Key highlights include:

• Stabilized occupancy levels
• Consistent leasing performance
• Durable asset fundamentals within a high-growth submarket

Durham continues to benefit from strong population growth, employment expansion, and proximity to the Research Triangle, reinforcing long-term rental demand.

Execution & Market Positioning

This refinance underscores New Urban Residential’s ability to:

• Execute favorable financing in evolving capital markets
• Maintain high-performing stabilized assets
• Leverage agency lending programs to optimize returns
• Preserve affordability while enhancing operational efficiency

By securing financing through Freddie Mac’s targeted affordable housing platform, the transaction aligns with both financial objectives and broader housing accessibility initiatives, reinforcing the firm’s commitment to responsible and sustainable multifamily operations.

Partnership & Closing

The financing was arranged by CBRE’s Multifamily Debt & Structured Finance team, whose execution and market expertise were instrumental in delivering a competitive structure tailored to the asset’s performance profile.

Looking Ahead

The successful refinance of Willow Bend represents another milestone in New Urban Residential’s continued growth across the Carolinas. With a disciplined focus on operational excellence, strategic capital deployment, and market-driven decision-making, the firm remains well-positioned to navigate market cycles and deliver consistent value to investors and stakeholders.

The post New Urban Residential Successfully Closes $6M+ Refinance of Willow Bend Apartments in Durham, NC appeared first on New Urban Residential Blog.

                                                                                    

Spruce Properties – New Urban Residential Expands in the Charlotte Market with $68.75 Million Acquisition of Evolve at Parkway

300-Unit Class A Multifamily Asset in Charlotte Suburb Concord, North Carolina

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New York, NY – June 12, 2025 – Spruce Properties is pleased to announce the acquisition of Evolve at Parkway, a new 300-unit, garden-style multifamily property located in Concord, North Carolina, approximately 25 minutes north of downtown Charlotte.

Spruce Properties, a vertically integrated real estate firm focused on the acquisition, repositioning, and asset management of multi-family housing assets nationally, acquired the asset for $68.75 million. The property, constructed in 2023, is currently 98% leased and provides significant opportunity for rental growth.

"This is a best-in-class property in a submarket that continues to outperform,” said Robert Schwartz, co-founder of Spruce Properties. “We are thrilled to capitalize on this rare opportunity to buy an institutional-quality, brand new asset below replacement cost in a rapidly growing submarket with limited new supply."

Spruce’s business plan focuses on maximizing income and improving operational efficiency through its affiliated management company, New Urban Residential.

“As a fully unified platform working in tandem with Spruce Properties, we’re uniquely positioned to unlock the full potential of this asset,” said Seth Wolfman, Spruce Properties partner and Founder of New Urban Residential. “Evolve at Parkway holds enormous potential, and we plan to enhance both resident experience and investment performance through operational enhancements and strategic capital improvements."

Charlotte is one of the most attractive markets for multifamily investment in the country, with robust job growth, steady in-migration and a diversified economy. Concord is distinguished by its compelling fundamentals, including diverse economic anchors, such as top-tier school districts, natural housing supply constraints, sustained rent growth, and major employers such as NASCAR, Eli Lilly, Amazon, and UNC-Charlotte.

"This acquisition represents a key milestone in our strategic pivot toward high-growth Sunbelt markets,” Zachary Neugut, Head of Investments at Spruce Properties. “Charlotte—and Concord in particular— exemplifies the economic strength and market fundamentals we aim to target as part of our long-term investment approach."

Located at 50 Fenway Pl SW, Evolve at Parkway offers luxury one-, two-, and three-bedroom apartment homes ranging from 776 to 1,411 square feet. Individual apartments offer nine-foot ceilings, walk-in closets, gourmet kitchens with stainless steel appliances, and private balconies. Private fenced-in yards are also available in 32 ground-floor units. The pet-friendly community amenities include a resort-style saltwater pool, covered outdoor pool lounge area with a fireplace and television, 24-hour fitness center with spin and yoga room, pet wash and on-site dog park, billiards room, business lounge, grilling pavilion, playground and 42 rentable garages.

Berkadia, a distinguished leader in the commercial real estate sector, arranged the sale and

financing. Senior Managing Director Caleb Troop, Director Thomas Colaiezzi, and Associate Director Matt Robertson of Berkadia Charlotte led the sale on behalf of the seller, Evolve Companies of Greensboro, North Carolina.

“Evolve at Parkway presented an opportunity to acquire a brand-new, high-quality asset with unique features in a market defined by top-rated schools, high-income earners and high barriers to entry for other multifamily operators,” said Troop.

Managing Director Laura Beaton of Berkadia Boston secured a $45 million acquisition loan through Fannie Mae at a 5.37% interest rate on behalf of Spruce Properties. The deal closed on June 12, 2025.

About Spruce Properties and New Urban Residential

Spruce Properties is the multifamily equity investment arm of Spruce Capital Partners, a privately held, New York-based real estate investment firm founded by Robert Schwartz and Joshua Crane. As a fully integrated multifamily operator, Spruce Properties is focused on long-term value creation, targeting properties that provide stable cash flows, reliable risk-adjusted returns, and tax-efficient structures for investors. Currently, Spruce Properties owns 5,000+ units valued at over $500 million, with a portfolio focused on the Midwest and expanding into the Southeast. Spruce Properties, and it’s affiliated management company, New Urban Residential, work in tandem to deliver strong results.

Media Contact:           Shea Communications LLC

                                    George Shea, (917) 584-0988, [email protected]
                                    Kinsey Watson, (929) 696-4580, [email protected]

About Berkadia®:

Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets.

To learn more about Berkadia, please visit www.berkadia.com.

Media Contact:          Revelie on behalf of Berkadia Real Estate Advisors LLC, Melinda Sherwood, [email protected]

The post Spruce Properties – New Urban Residential Expands in the Charlotte Market with $68.75 Million Acquisition of Evolve at Parkway appeared first on New Urban Residential Blog.