URS Capital Partners

"When times are good we forget that times can be bad, and when times are bad we forget that times can be good again." - Howard Marks

You can't control the market, but you can control how hard you work. And we are working harder than we have in years.

Many of our markets have absorbed the highest apartment supply in decades. Rent growth slowed, concessions returned, conditions shifted well past what was underwritten a few years ago. We never expected easy.

What gives us confidence is not predicting the cycle. It is our people, asset management, property management, maintenance, leasing, and leadership, showing up every day to improve operations, control expenses, and build value one decision at a time.

Cycles come and go. The operators who execute through the hard part are the ones best positioned when it turns. We have spent these years acquiring quality assets in markets we still have long-term conviction in.

It may not feel like it now. But years from now, we believe we will look back on this period, and this discipline, and be glad we stayed the course.

For informational purposes only. Not an offer to sell or a solicitation to buy securities. Any offering is made only through official offering documents and only to qualified investors.

Our focus at URS is simple:

- Buy with discipline
- Execute operationally
- Protect downside first
- Let the outcomes speak over time

That approach isn’t always the fastest way to grow, but it’s the right way to build a sustainable business for the long term.

From an Investor Relations standpoint, we focus on 3 things: transparency, consistency, and alignment.

We’re not trying to be everything to everyone, we’re focused on building the right group of partners over time.

If you’re an accredited investor and that resonates, feel free to reach out.

For informational purposes only. Not an offer to sell or a solicitation to buy securities. Any offering is made only through official offering documents and only to qualified investors.

Markets move. We focus on the part we control: ex*****on.

That is why we built URS Properties, our in-house management division that works exclusively on the URS portfolio. Vertical integration was never about adding a profit center. It was about staying close enough to the assets to run them as efficiently as possible.

When we own operations, the loop tightens. Decisions get made faster. Feedback from the field reaches the people underwriting the deal. Accountability sits in one place, with us. When something needs fixing or an opening appears, we can move on it directly.

When markets are fluid, that operational ex*****on stops being a detail and becomes the strategy.

If you are an investor who pays attention to operations and downside protection, let's connect.

For informational purposes only. Not an offer to sell or a solicitation to buy securities. Any offering is made only through official offering documents and only to qualified investors.

Happy Father’s Day

Today, we recognize the fathers who lead by example, make sacrifices behind the scenes, and help build strong sons and daughters. Hope you’re enjoying the day!

Operations aren’t “back office” in a fluid environment; they ARE the strategy.

At URS, we treat real estate as an operating business, not just a collection of assets.

That means:
• Vertical integration to control speed, quality, and accountability
• A daily focus on leading indicators, not just month-end financials
• Treating onsite teams as an extension of ownership, not a cost center

This approach isn’t about short-term optics. It’s about protecting downside, preserving capital, and compounding results over a full cycle.

To find out more, join our investor community: https://rebrand.ly/Join_URS



For informational purposes only. Not an offer or solicitation.

Thank you is never enough, but remembrance matters.