S2 Capital
S2 Capital Real Estate Investing
S2 Capital, a Dallas-based investment firm, acquired the 202-unit multifamily property, the Stetson, from Equimax Management, for $32.5 million.
S2 Capital has acquired a two-property ensemble comprising the 104-unit Belle Rive Club Apartments in Jacksonville, Fla., along with the 202-unit Vineyard Hills in Austin, Texas. Main Street Residential previously owned the Jacksonville community, while a private investor sold the Austin property, Yardi Matrix information shows.
S2 Capital (“S2”), a national, vertically integrated multifamily investment manager, announced the acquisitions of two multifamily properties, including Belle Rive Club Apartments in Jacksonville, Florida, and Vineyard Hills in Austin, Texas. Terms of the transactions were not disclosed.
S2 plans to apply its value-add approach at the Jacksonville- and Austin-based properties
Dallas, TX, June 10, 2024 – S2 Capital (“S2”), a national, vertically integrated multifamily investment manager, today announced the acquisitions of two multifamily properties, including Belle Rive Club Apartments in Jacksonville, Florida, and Vineyard Hills in Austin, Texas. Terms of the transactions were not disclosed.
“The Austin and Jacksonville markets continue to demonstrate population and job growth, and combined with the repricing taking place in the multifamily sector, we believe these two properties have attractive risk/reward profiles and are an excellent value,” said Ryan Everett, Vice President of Acquisitions at S2. “We are planning operational improvements and value-add upgrades and renovations to both Vineyard Hills and Belle Rive Club Apartments.”
The 104-unit Belle Rive Club Apartments at 8715 Belle Rive Blvd in Jacksonville features one- and two-bedroom layouts, with modern appliances, air conditioning, a combination of hardwood floors and carpet, in-unit washers and dryers and a balcony or patio in select units. Residents also access community amenities including a pool, grilling area, dog park, equipped fitness center, clubhouse, car wash area and access to the nearby inland lakes as part of the Royal Lakes neighborhood. The property sits about ten miles southeast of Downtown Jacksonville, seven miles from the University of North Florida and is also in close proximity to numerous restaurants, The Avenues mall and Interstate-95, Route 152 and Route-115 for convenient connection to adjacent areas.
Spanning over 11-acres in Southwest Austin, Vineyard Hills is located at 7631 U.S. Hwy 290 West Austin with 202 units. The multifamily property offers spacious one-, two- and three-bedroom options, each with walk-in closets, a balcony, detached garages and select units with fireplaces, bay windows and tile floors. Additionally, the property features a pool, heated spa, picnic area with BBQ grills, an on-site laundry facility and a dog park. Surrounding Vineyard Hills, the Southwest Austin area has an array of shopping destinations, parks and schools, and is within 25-minutes from historic Downtown Austin.
About S2
Founded in 2012, S2 is a Dallas-based national multifamily investment platform specializing in value-add, opportunistic, and distressed investments. With approximately $10 billion in transaction volume, S2 has acquired over 47,000 units through 137 acquisitions and has successfully invested over $500 million in upgrades and renovations. S2 is a vertically integrated multifamily investment platform investing through its series of commingled closed-end vehicles, with skilled teams in acquisitions, capital formation, construction, asset management and operations working closely together to execute the firm’s business plan. The firm concentrates its investments in the U.S. Sunbelt, including Arizona, Florida, Georgia, North Carolina, South Carolina, Texas, Tennessee and Virginia, where job and population growth is expected to outpace the national average and contribute to significant renter demand. For more information, visit www.s2cp.com.
Media Contacts
media@s2cp.com
Dallas, TX, March 25, 2024 – S2 Capital (“S2”), a national, vertically integrated multifamily investment manager, today announced the appointment of Michael Bippus as Vice President, Acquisitions for Southeast markets. Mr. Bippus will lead acquisitions for the firm’s multifamily investments in high-growth markets in Tennessee, Virginia, North Carolina, South Carolina, Georgia and Florida. S2 also announced it has hired Will Foster as a Senior Associate to support the Southeast investments team, with a focus on the Tennessee, Virginia, North Carolina and South Carolina markets.
“We’re delighted to have Michael heading up acquisitions for our Southeast expansion,” said Scott Everett, CEO of S2. “His wide-ranging knowledge of nearly every aspect of multifamily investing and extensive regional experience make him a great choice for deepening S2’s footprint in Southeast markets. We also welcome Will, a new Senior Associate, who is a great addition of talent to the Southeast team with deep market knowledge from his years at Eastdil Secured.”
Based in Atlanta, Georgia, with 25 years of investment experience, Mr. Bippus most recently served as Managing Director, Acquisitions for Waypoint Residential. Supporting the firm’s development from a startup to a national real estate investment platform, he led over $2 billion in transaction volume across core plus and value-add multifamily investments. Prior to that, he served as a Vice President, Acquisitions for Harbor Group International and Berkshire Property Advisors. Mr. Bippus holds a Bachelor of Science from the Indiana University Kelley School of Business and a Master of Business Administration from the University of Georgia Terry College of Business.
Mr. Foster is based in Charlotte, North Carolina. He joins S2 with more than four years of transaction experience, which he developed at global real estate investment bank, Eastdil Secured, as an Associate on the Multifamily Team. There, he completed over $3.5 billion in transaction volume, focusing on core, core plus, value-add and opportunistic multifamily deals. Mr. Foster holds of Bachelor of Arts in public policy analysis from the University of North Carolina at Chapel Hill and a Master of Business Administration from the University of Notre Dame.
About S2
Founded in 2012, S2 is a Dallas-based national multifamily investment platform specializing in value-add, opportunistic, and distressed investments. With approximately $10 billion in transaction volume, S2 has acquired over 46,000 units through 134 acquisitions and has successfully invested over $500 million in upgrades and renovations. S2 is a vertically integrated multifamily investment platform investing through its series of commingled closed-end vehicles, with skilled teams in acquisitions, capital formation, construction, asset management and operations working closely together to execute the firm’s business plan. The firm concentrates its investments in the U.S. Sunbelt, including Arizona, Florida, Georgia, North Carolina, South Carolina, Texas, Tennessee and Virginia, where job and population growth is expected to outpace the national average and contribute to significant renter demand. For more information, visit www.s2cp.com.
Media Contacts
media@s2cp.com
CHARLOTTE, NC – S2 Capital, a vertically integrated multifamily investment manager, announced it has acquired Timber Creek, a 352-unit multifamily property located in Charlotte, North Carolina, and represents S2’s eighth property in the state. Financial terms of the transaction were not disclosed.
