Momentum Real Estate Partners announced that it has acquired University Hill Apartments, a 269-unit Class A multifamily community in Durham, North Carolina.
The acquisition closed on April 30, 2026, and adds the property to the Momentum Real Estate Fund IV portfolio. Momentum acquired the property from Hawthorne Residential Partners.
University Hill is located at 3806 University Drive in Southwest Durham. Built in 2020, the property includes 244,463 rentable square feet and an average unit size of 909 square feet.
The community is located within a mixed-use setting that provides access to retail, restaurant, fitness, and lifestyle amenities. It is also minutes from Duke University, Duke University Hospital, Downtown Durham, UNC-Chapel Hill, and Research Triangle Park.
Momentum said the acquisition expands its multifamily portfolio into the Research Triangle and reflects its focus on high-quality assets in growing U.S. markets with strong fundamentals.
University Hill was awarded Triangle Business Journal’s 2020 Redevelopment of the Year and is recognized as North Carolina’s first WiredScore Gold multifamily property.
The community also includes UHill Walls, one of the largest consolidated collections of mural art in the Southeast. The art collection includes more than 40 murals spanning over 40,000 square feet across the property’s retail and multifamily components.
The property’s amenities include a saltwater pool with a tanning ledge, outdoor kitchens with Big Green Egg grills and wood-fired pizza ovens, collaborative workspaces, study rooms, a fitness center, indoor gardening room, indoor bike storage, a pet spa, dog park, package lockers, EV charging stations, and high-speed connectivity.
The 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.
Momentum said the acquisition reflects its confidence in the long-term fundamentals of the Raleigh-Durham market. The region continues attracting residents and employers through its concentration of universities, healthcare institutions, technology companies, and life sciences organizations.
Founded in Miami, Momentum Real Estate Partners has been active in the real estate industry for more than 15 years. The firm has completed $1.71 billion in transaction volume across major U.S. markets and has acquired 22 projects totaling 5,619 residential units across 15 cities.
KEY QUOTES:
“University 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. Durham continues to benefit from the strength of Duke University, UNC-Chapel Hill, Research Triangle Park and the broader Raleigh-Durham economy. UHill’s location, design and mixed-use environment create a distinctive living experience that aligns well with our long-term investment approach.”
Mauricio Gruener, Co-Founder and Co-CEO of Momentum
“UHill is more than a traditional apartment community. It combines Class A construction, strong resident amenities, walkable retail, public art and proximity to some of the Triangle’s 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.”
Eduardo Gruener, Co-Founder and Co-CEO of Momentum
