Spruce Properties

We Own

Spruce Properties seeks to acquire and manage multi-family rental housing assets outside of New York City that are positioned to deliver stable long-term cash flow and capital appreciation.

Investment Approach

Long-term

“Bet-On-America” buy

and hold strategy across U.S.

Multi-Family opportunities

Acquire in

strong markets

with favorable

demographic trends and strong

employment base

Tax efficient

investment

distinguished by low volatility,

predictable cash flow and

attractive yields

Portfolio and Transactions

Settlers Run

Danville, Indiana
304 Units

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Saratoga Crossing

Plainfield, Indiana
240 Units

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Brownsburg Crossing

Brownsburg, Indiana
224 Units

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Avon Creek

Avon, Indiana
256 Units

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The Edge at Greentree

Claymont, Delaware
286 Units

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Crystal Springs

Silver Spring, MD

435 Unit Rental

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The Pathways

Mobile, Alabama
244 Units

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Sandpiper

Mobile, Alabama
253 Units

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Windsor Place

Mobile, Alabama
384 Units

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Yester Oaks

Mobile, Alabama
587 Units

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The Crossings at Pinebrook

Mobile, Alabama

545 Units

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Lake Shore

Ankeny, Iowa
239 Units

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Lake Shore Park

Ankeny, Iowa
122 Units

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Lake Shore Place

Ankeny, Iowa
24 Units

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Peach Tree

Ankeny, Iowa
16 Units

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Sunrise Meadows

Waukee, Iowa
54 Units

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Saylorville Lakeside

Polk City, Iowa
52 Units

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Hawthorne Court

Central Islip, New York
434 Units

SOLD

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Crystal Woods

Alexandria, VA

344 Unit Rental

SOLD

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Settlers Run
Danville, Indiana

A 304 unit rental community surrounding a private lake and pool, Settlers Run has 48 1 bedroom, 160 2 bedroom, and 96 3 bedroom apartments. Located near Road 36, these residences provides access to Danville’s excellent schools in the west, and Indianapolis to the east.

Saratoga Crossing
Plainfield, Indiana

Saratoga Crossing is a 240 unit rental complex with 40 one bedroom, 112 2 bedroom, and 88 3 bedroom apartments, along with manifold amenities for residents. It also provides easy access to I-70 and I-465, for a 15-minute drive to Indianapolis International Airport, or a 30-minute drive to the center of the city.

Brownsburg Crossing
Brownsburg, Indiana

Situated in Brownsburg, part of the Indianapolis metropolitan area, Brownsburg Crossing consists of 32 1 bedroom, 136 2 bedroom, and 56 3 bedroom apartments. It also has a private lake, pool, and other amenities for residents. The complex is located less than 30 minutes from the center of Indianapolis, which has seen strong growth in the distribution, tech, manufacturing, and healthcare sectors over the last several years.

Avon Creek
Avon, Indiana

A 256-unit rental complex in Avon, just west of Indianapolis, Avon Creek provides tenants with 56 one bedroom, 152 2 bedroom, and 48 3 bedroom apartments, along with a pool overlooking a private lake. It is also located on US Road 36, less than twenty minutes from the center of Indianapolis.

The Edge at Greentree
Claymont, Delaware

A 286-unit garden style community located in the attractive Northern Wilmington region of Delaware. Situated less than one mile from the Delaware / Pennsylvania state line, the property is centrally located within the economic and social drivers of Philadelphia, Wilmington, and Chester County Pennsylvania. The unit mix is 88 one bedroom, 196 two bedroom, and 29 three bedroom apartments.

Crystal Springs Apartments
Silver Spring, Maryland

435 units in Silver Spring, Maryland, centrally close to downtown Washington D.C. Amenities include a fitness center, swimming pool, playground and picnic areas, and ample parking.

The Pathways
Mobile, Alabama

The Pathways consists of 244 apartments spread over 10 acres. It is located in Dauphin Acres neighborhood in Mobile positioned between Dauphin Street and Airport Boulevard close to Mobile’s Central Business District. Both the Shoppers at Bel Air and the Springdale Mall are located around one mile from property.

Sandpiper
Mobile, Alabama

Sandpiper consists of 253 units spread over 18 acres. The site located in Tillman Corner with visibility and access to US-90. It is 1.5 miles north of Walmart Super-center and is withing a ten-minute drive to the University of South Alabama,Spring Hill College, Amazon, Downtown Mobile and Mobile Regional Airport.

Windsor Place
Mobile, Alabama

Windsor Place consists of 384 apartment spread over 30 acres. It is located just south of Airport Blvd in the southwest quadrant of Airport/I-65 exchange. The property is withing walking distance to the Country Club of Mobile,the Springdale Mall, and the Pinebrook Shopping Center. It is within ten-minute drive from Downtown Mobile, the University of South Alabama, Spring Hill College and Mobile Regional Airport.

Yester Oaks
Mobile, Alabama

Yester Oaks consists of 587 apartment spread over 38 acres. This site is an exceptional location located just north of Airport Blvd in the northwest quadrant of Airport/I-65 exchange. The property is withing walking distance to the Country Club of Mobile,the Springdale Mall, and Pinebrook Shopping Center. It is withing a ten-minute drive from Downtown Mobile, The University of South Alabama, Spring Hill College and the Mobile Regional Airport.

The Crossings at Pinebrook
Mobile, Alabama

The Crossings at Pinebrook consists of 545 apartments spread over 34 acres. It was originally constructed in 1968 and then benefited from major interior renovation of virtually all its apartment units between the years 2001 and 2003. The site is comprised of a mix of one-bedroom,two-bedroom and three-bedroom apartment homes in both flat and townhouse styles.

Lake Shore
Ankeny, Iowa

The largest property in Spruce’s BBK Iowa portfolio, Lake Shore is a 239-unit rental community across three separate residential buildings, along with several gyms, a pool, and other common spaces. Built between 2015 and 2017, Lake Shore has 10 studio, 112 1 bedroom, 101 2 bedroom, and 16 3 bedroom apartments. Lake Shore is a fifteen minute drive from downtown Des Moines.

Lake Shore Park
Ankeny, Iowa

Lake Shore Park is a 122-unit apartment complex within walking distance of Lake Shore, a larger property within Spruce’s BBK Iowa portfolio. Tenants have access to all amenities offered at Lake Shore, including several gyms, a pool, and other common spaces. Lake Shore Park has 8 1 bedroom and 114 2 bedroom apartments. The property is a fifteen minute drive down I-35 from downtown Des Moines.

Lake Shore Place
Ankeny, Iowa

The smallest property in the Lake Shore Cluster, Lake Shore Place is a 22-unit rental complex, a seven minute walk from the larger Lake Shore property. Tenants have access to all amenities offered at Lake Shore, including several gyms, a pool, and other common spaces. Lake Shore Park has 12 2 bedroom and 12 3 bedroom apartments. The property is a fifteen minute drive down I-35 from downtown Des Moines.

Peach Tree
Ankeny, Iowa

Part of the Ankeny, Iowa sub-market, Peach Tree sits in a vibrant area with a large industrial presence and a strong public school system. The property consists of 16 2 bedroom apartments. Peach Tree is a fifteen minute drive down I-35 from downtown Des Moines.

Sunrise Meadows
Waukee, Iowa

Due west of Des Moines, Sunrise Meadows is a 54-unit apartment property surrounded by a large office presence and a flurry of recent multi-family development. The property consists of 54 2 bedroom apartments. Sunrise Meadows is a twenty minute drive down I-35 from downtown Des Moines.

Saylorville Lakeside
Polk City, Iowa

Northwest of Des Moines, Saylorville Lakeside is a 52-unit property on Saylorville Lake. This area is surrounded by walking, hiking, and biking trails, giving the property a more suburban feel than the others in Spruce’s Iowa portfolio. Families commonly move into Saylorville Lakeside to give their children access to the outdoor amenities nearby. With the quieter feel, these apartments are still within 30 minutes of the center of Des Moines by car. The property consists of 8 1 bedroom and 44 2 bedroom apartments.

HAWTHORNE COURT
CENTRAL ISLIP, NEW YORK

 

Residential community consisting of 20 two-story buildings is located in Central Islip. There are 434 units with landscaped grounds including a swimming pool and playground. Located within close proximity to the LIRR and the Long Island Expressway.

Crystal Woods
Alexandria, Virginia

Crystal Woods of Alexandria, an institutionally-maintained garden-style community of 344 units located inside-the-Beltway, proximate to Washington, DC. Within 15-minute drive to Pentagon, U.S. Patent & Trademark Office, Debt. Of Defenses’ Mark Center Campus, and Inova Alexandria Hospital.