URS Capital Partners Acquires Residences At Belmont For $23.1M

The Residences at Belmont, a 176-unit apartment property located at 199 Belmont Mount Holly Road in Belmont, NC, was recently sold for $23.1 million. The property was acquired by Christopher Urso's URS Capital Partners from an affiliate of Napali Capital. The affiliate had purchased the property in 2018 for $16.7 million.

Summary of transation details:

• Property Type: MultiFamily
• Transaction Amount: $23,100,000
• Units: 176
• Price Per Unit: $131,250
• Buyer: Christopher Urso - URS Capital Partners
• Seller: Affiliate of Napali Capital
• Broker: Berkadia
• Market: Belmont, NC

URS Capital Partners made the acquisition of the Residences at Belmont, expanding their portfolio with this multi-family asset. The deal was facilitated by Berkadia, representing the buyer and seller in the transaction.