S2 Capital
S2 Capital Real Estate Investing
The acquisition marks S2’s first major push beyond multifamily since its founding in 2012.
S2 Capital has entered the industrial real estate space with the acquisition of Fort Capital, an owner and operator of industrial assets led by Chris Powers. The deal, expected to close August 11, adds an 11 million-square-foot industrial portfolio and a 50-person investment team to Scott Everett’s firm.
National apartment investor acquires Fort Capital to expand into industrial sector
S2 Capital founder and CEO Scott Everett has sought to expand the firm’s investment focus beyond apartments to industrial real estate for years to follow the rise of e-commerce. But the apartment industry in the wake of the pandemic kept the national real estate investment manager busy.
The multifamily specialist’s latest vehicle also marks the first time the firm is making rescue capital investments.
S2 Capital has raised a total of $373 million in the final close for its second US-focused value-add fund, S2 Real Estate Fund II, PERE has learned.
The vehicle amassed $353 million in commitments along with $20 million in co-invest capital. Fund II’s limited partners comprised a mix of US and European investors such as global asset managers, public pensions, multifamily offices and wealth management firms.
S2 Capital has acquired Amberly Place, a 1989-vintage, 770-unit, garden-style multifamily apartment community in Tampa, Fla. With this transaction, S2 has now acquired more than 50,000 units since inception in 2012. Terms of the transaction were not disclosed.
The property was acquired off-market through a deal arranged by Shelton Granade of commercial real estate brokerage firm Institutional Property Advisors (IPA). IPA’s Harry Krieger assisted S2 in securing Freddie Mac financing.
We’re proud to announce that S2 Capital has been named one of the Top Multifamily Owners in the 2025 NMHC 50 rankings! This recognition from the National Multifamily Housing Council (NMHC) highlights our commitment to excellence, innovation, and growth in the industry.
The NMHC 50 ranks the nation’s top owners, managers, developers, builders, and syndicators, celebrating those making a significant impact in multifamily housing. We’re honored to be included among the industry’s best and remain dedicated to delivering outstanding communities for our residents.
Founded by Scott Everett in 2012, S2 Capital recently marked a win with the capitalization of a $2 billion private REIT, with more than 10,000 multifamily units owned. “This was a roll-up of 26 individual joint ventures that required a lot of work, but ultimately is an excellent outcome for our limited partners and S2,” Everett says. “It is a core-plus evergreen investment vehicle for us.”
Since its inception, the company has acquired over 49,000 apartment units and conducted over 180 transactions totaling over $10 billion in transaction value. Most recently, the company acquired a distressed portfolio of five multifamily properties with 1,768 units in January. That includes Landmark at Gleneagles in Dallas, as well as four Tennessee properties.
