Key Takeaways
- • Momentum Real Estate Partners acquired University Hill Apartments, a 269-unit Class A multifamily property in Durham, North Carolina, for $87.1 million ($323,792 per unit) in a transaction that closed on April 30, 2026.
- • The acquisition marks Momentum's entry into the Research Triangle market and represents the firm's strategic expansion into high-growth U.S. markets with strong economic fundamentals near major employment centers including Duke University, Duke University Hospital, and Research Triangle Park.
- • University Hill is a newly constructed asset (completed in 2020) spanning 244,463 rentable square feet with premium amenities including saltwater pool, collaborative workspaces, EV charging, high-speed connectivity, and an extensive mural art collection (UHill Walls) exceeding 40,000 square feet across the property.
- • The property's location in Southwest Durham provides proximity to major institutional anchors and mixed-use retail/dining/lifestyle amenities, with the asset previously recognized as Triangle Business Journal's 2020 Redevelopment of the Year and North Carolina's first WiredScore Gold multifamily community.
- • Momentum Real Estate Fund IV acquired the property from Hawthorne Residential Partners, expanding the Miami-based firm's multifamily portfolio into one of the nation's higher-growth metropolitan regions.
Summary
Momentum Real Estate Partners, a Miami-based real estate investment firm, has completed its acquisition of University Hill Apartments in Durham, North Carolina for $87.1 million, marking the firm's inaugural investment in the Research Triangle market. The transaction closed on April 30, 2026, with the property added to Momentum Real Estate Fund IV's portfolio. The acquisition was sourced from Hawthorne Residential Partners and represents a per-unit valuation of $323,792 across the 269-unit community.
University Hill is positioned as a premium Class A multifamily asset located at 3806 University Drive in Southwest Durham. The property, constructed in 2020, comprises 244,463 rentable square feet with an average unit size of 909 square feet. The location provides direct access to significant employment and institutional anchors, including Duke University, Duke University Hospital, UNC-Chapel Hill, and Research Triangle Park—positioning the asset within a high-demand labor market benefiting from diversified economic drivers across healthcare, education, and technology sectors.
The property distinguishes itself through award-winning design and comprehensive amenities. University Hill received Triangle Business Journal's 2020 Redevelopment of the Year designation and holds certification as North Carolina's first WiredScore Gold multifamily property. The community features a saltwater pool with tanning ledge, outdoor kitchens equipped with Big Green Egg grills and wood-fired pizza ovens, collaborative workspaces, study rooms, fitness center, indoor gardening room, bike storage, pet spa, dog park, package lockers, and EV charging infrastructure. The property also incorporates UHill Walls, described as one of the Southeast's largest consolidated mural art collections, spanning more than 40 murals across 40,000 square feet of retail and residential components.
Momentum Real Estate Partners' acquisition reflects the firm's strategic thesis of targeting high-quality assets in expanding U.S. markets with demonstrated economic fundamentals. The Research Triangle region continues to attract institutional capital due to its employment diversity, population growth, and educational/medical institution presence. This transaction represents the firm's first entry into the Triangle market and signals continued expansion of its multifamily platform into select Sunbelt growth corridors.
University Hill is positioned as a premium Class A multifamily asset located at 3806 University Drive in Southwest Durham. The property, constructed in 2020, comprises 244,463 rentable square feet with an average unit size of 909 square feet. The location provides direct access to significant employment and institutional anchors, including Duke University, Duke University Hospital, UNC-Chapel Hill, and Research Triangle Park—positioning the asset within a high-demand labor market benefiting from diversified economic drivers across healthcare, education, and technology sectors.
The property distinguishes itself through award-winning design and comprehensive amenities. University Hill received Triangle Business Journal's 2020 Redevelopment of the Year designation and holds certification as North Carolina's first WiredScore Gold multifamily property. The community features a saltwater pool with tanning ledge, outdoor kitchens equipped with Big Green Egg grills and wood-fired pizza ovens, collaborative workspaces, study rooms, fitness center, indoor gardening room, bike storage, pet spa, dog park, package lockers, and EV charging infrastructure. The property also incorporates UHill Walls, described as one of the Southeast's largest consolidated mural art collections, spanning more than 40 murals across 40,000 square feet of retail and residential components.
Momentum Real Estate Partners' acquisition reflects the firm's strategic thesis of targeting high-quality assets in expanding U.S. markets with demonstrated economic fundamentals. The Research Triangle region continues to attract institutional capital due to its employment diversity, population growth, and educational/medical institution presence. This transaction represents the firm's first entry into the Triangle market and signals continued expansion of its multifamily platform into select Sunbelt growth corridors.
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