URS Capital Partners acquires Florida multifamily unit
Plans to grow in market
Real estate investment company URS Capital Partners has joined the Florida market with its recent acquisition of South Point Place Apartments, a 108-unit apartment complex in Jacksonville, Fla., the company announced in a press release.
"This is a true example of the type of deals we target at URS. It's an asset that is well placed in a market that's growing in terms of both employment opportunities and population, but was under managed and in need of repositioning," said URS Capital Managing Partner Janet Silverman.
In addition, the company plans to acquire more multifamily assets in 2014, focusing primarily on B and C assets with a value-add component in the $5 million to $15 million range.