URS Capital Partners acquires 266-unit townhome complex

URS Capital Partners acquired Pepperhill & Palmetto Apartments (soon to be Ashley Village), a 266-unit townhome complex. This acquisition represents the 7th apartment purchase for URS in the last 4 years and brings their portfolio to 800 units. URS Capital Partners acquired the property utilizing Fannie Mae financing, arranged through Chris Kinder of CK Realty Partners and private equity capital sourced through URS's strong investor network. "This asset is the perfect compliment to our existing property in the market, The Reserve at Ashley River, which is just winding down a $2,000,000 renovation and has, in just 8 months since takeover, largely completed its repositioning and is now stabilized with over 90% occupancy. The timing couldn't be better for us to start a new repositioning project in the market; we are seeing a great response to our management style and look forward to replicating this success at Ashley Village," said Chris Urso, managing partner of URS.