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<\/a><\/a>\nBuilt in 2020, UHill is situated within a thoughtfully curated mixed-use setting in Southwest Durham. The property features 244,463 rentable square feet, an average unit size of 909 square feet, and immediate access to nearby curated retail, restaurant, fitness and lifestyle amenities. The community is positioned minutes from Duke University, Duke University Hospital, Downtown Durham, UNC-Chapel Hill and Research Triangle Park, one of the country\u2019s most recognized employment corridors for technology, education, healthcare and life sciences.<\/p>
\n\u201cUniversity Hill represents the type of opportunity we seek for Momentum: a high-quality asset in a market supported by stable employment and education-driven demand,\u201d said Mauricio Gruener, Co-Founder and Co-CEO of Momentum. \u201cDurham continues to benefit from the strength of Duke University, UNC-Chapel Hill, Research Triangle Park and the broader Raleigh-Durham economy. UHill\u2019s location, design and mixed-use environment create a distinctive living experience that aligns well with our long-term investment approach.\u201d<\/p>
\nUHill was awarded Triangle Business Journal\u2019s 2020 Redevelopment of the Year and is recognized as North Carolina\u2019s first WiredScore Gold multifamily property. The community also includes UHill Walls, one of the largest consolidated collections of mural art in the Southeast, with more than 40 murals spanning over 40,000 square feet across the property\u2019s retail and multifamily components.<\/p>
\nThe property\u2019s amenity package includes a saltwater pool with tanning ledge, outdoor kitchens with Big Green Egg grills and wood-fired pizza ovens, collaborative workspaces and study rooms, a fitness center, indoor gardening room, indoor bike storage, pet spa, dog park, package lockers, EV charging stations and high-speed connectivity throughout the community. Residences include European-inspired cabinetry, quartz countertops, black stainless-steel appliances, Latch smart access, Nest thermostats, modern fixtures and select ground-floor private pet runs.<\/p>
\n\u201cUHill is more than a traditional apartment community,\u201d said Eduardo Gruener, Co-Founder and Co-CEO of Momentum. \u201cIt combines Class A construction, strong resident amenities, walkable retail, public art and proximity to some of the Triangle\u2019s most important demand drivers. We believe the property is well positioned within Durham, and we look forward to applying our hands-on asset management approach to support the community and enhance the resident experience.\u201d<\/p>
\nThe acquisition also reflects Momentum\u2019s conviction in the long-term fundamentals of the Raleigh-Durham market. The region continues to attract residents and employers through its concentration of universities, healthcare institutions, technology companies and life sciences organizations. UHill\u2019s location between Durham, Chapel Hill and Research Triangle Park places the property near multiple employment nodes while offering residents an accessible, lifestyle-oriented environment.<\/p>
\nMomentum acquired the property from Hawthorne Residential Partners.<\/p>
\nAbout Momentum Real Estate Partners, LLC<\/strong> Based in Miami, Florida, Momentum Real Estate Partners, LLC has made a significant mark over more than 15 years in the real estate industry, with transaction volume across major U.S. markets amassing a total of $1.71 billion in property value. Since its founding, the company has acquired 22 projects, totaling 5,619 residential units spread across 15 dynamic cities. Delve into their story at momentumrep.com<\/a>.<\/p> \nDisclaimer:<\/strong> INVESTING CARRIES SIGNIFICANT RISKS. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. THIS STATEMENT IS NEITHER AN OFFER TO BUY OR SELL SECURITIES NOR A RECOMMENDATION. KINDLY REFER TO OUR PRIVATE PLACEMENT MEMORANDUM FOR ESSENTIAL INFORMATION AND DISCLOSURES.<\/p> \nMedia Contact<\/b><\/p>