S2 Capital

S2 Capital Real Estate Investing

press releases

S2 Capital Announces Closing of Fund II with Record Commitments

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S2 Capital Announces Closing of Fund II with Record Commitments

Dallas, TX – S2 Capital (“S2”), a national vertically integrated real estate investment manager, today announced the final closing of S2 Real Estate Fund (“Fund II”), with total capital commitments of $373 million exceeding those of its inaugural fund. The milestone underscores strong investor confidence in S2’s strategy, track record, and vertically integrated platform.

“We are incredibly grateful for the continued support from our existing Limited Partners and are equally excited to welcome a diverse group of new institutional investors,” said Scott Everett, Founder and CEO of S2 Capital. “Surpassing the capital raised in our first fund highlights investor trust in our team’s ability to identify and execute multifamily investments in high-growth markets.”

Fund II received broad institutional backing from a mix of U.S. and European investors including global asset managers, public pension, multi-family offices, and sophisticated wealth management firms, further demonstrating the platform’s global appeal.

Consistent with S2’s established, value-add investment thesis, Fund II targets distressed multifamily opportunities across high-growth markets including Texas, Arizona, Colorado, Florida, Tennessee, Georgia, and the Carolinas. More than 60% of Fund II has already been deployed across 14 assets in 9 markets, allowing S2 to capitalize quickly on opportunities that exist due to the recent market dislocation.

“The current environment has created exceptional opportunities for disciplined, well-capitalized investors,” added Patrick Connell, Head of Capital Formation & Investor Relations at S2 Capital. “Higher interest rates and elevated supply have introduced stress into the multifamily sector, and we’re leveraging our extensive relationships and operating capabilities to create value and drive performance.”

Fund II is actively executing investments aligned with S2’s strategy of repositioning underperforming assets with targeted renovations and improving operational efficiencies, with a focus on long-term value creation.

About S2 Capital

Founded in 2012, S2 Capital is a Dallas-based multifamily investment platform specializing in value-add, opportunistic, and core-plus investments. With approximately $11 billion in transaction volume, S2 has acquired over 50,000 units across high-growth U.S. markets. The firm operates through a fully integrated approach encompassing acquisitions, capital formation, construction, asset management, and property management. For more information, visit www.s2cp.com.

Media Contact
media@s2cp.com

S2 Capital Acquires Amberly Place Multifamily Community in Tampa, Surpasses 50,000 Units Acquired

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S2 Capital Acquires Amberly Place Multifamily Community in Tampa, Surpasses 50,000 Units Acquired

Dallas, TX, May 1, 2025 – S2 Capital (“S2”), a national vertically integrated multifamily investment manager, today announced the acquisition of Amberly Place, a 1989-vintage, 770-unit, garden-style multifamily apartment community in the Tampa, Florida market. With this transaction, S2 has now acquired over 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. S2 acquired the asset on behalf of its current value-add strategy, along with two institutional co-investors, including an overseas group based in London.

Michael Bippus, Managing Director of Acquisitions, said, “We are excited to add to our activity in Florida with this terrific asset in a top growth market for us. The equity void for large value-add housing acquisitions has created a unique pricing opportunity for GPs with discretionary capital and deep lending relationships, and we are delighted to acquire an asset that fits so squarely in our wheelhouse.”

Amberly Place is located in the Northeast quadrant of the master-planned Tampa Palms community. S2 will undertake comprehensive interior renovations to bring the property’s original apartments up to the design scope and standards of those units that have already been upgraded. The firm intends to make additional enhancements to interior and exterior amenity spaces and targeted capital improvements to address deferred exterior capex items.

The surrounding area is expected to experience strong projected population growth in the coming years. With high market demand and no new nearby supply expected over the next 24 months, S2 anticipates its proven value-add strategy and operating platform will enable the firm to execute on its business plan to reposition the asset and improve operating efficiencies successfully.

About S2 Capital

Founded in 2012, S2 is a Dallas-based multifamily investment platform specializing in value-add and core-plus investments. With approximately $11 billion in transaction volume, S2 has acquired over 50,000 units through 145 acquisitions across high-growth domestic markets. S2 is currently targeting opportunities in Texas, Arizona, Colorado, Florida, Georgia, North Carolina, South Carolina, Tennessee, and Virginia, where job and population growth is expected to outpace the national average and contribute to significant renter demand. S2 is a vertically integrated multifamily investment platform with various commingled value-add, closed-end vehicles and one core-plus, open-ended vehicle with skilled teams in acquisitions, construction, operations, asset management, and capital formation working closely together to execute the firm’s business plan. For more information, visit www.s2cp.com.

Media Contact

media@s2cp.com

S2 Capital Acquires Portfolio of Five Multifamily Properties with 1,768 Units

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S2 Capital Acquires Portfolio of Five Multifamily Properties with 1,768 Units

Dallas, TX, January 7, 2025 – S2 Capital (“S2”), a national vertically integrated multifamily investment manager, today announced the acquisition of a distressed multifamily portfolio consisting of five properties facing foreclosure in Dallas, TX, and Nashville and Knoxville, TN. S2 invested $60 million of rescue capital in a new joint venture with the existing Limited Partner through a structured preferred equity investment and secured a new 5-year $170 million senior loan through ACORE Capital. S2 will take over as the general partner with full operational control across property, asset, and construction management plus major decision rights to protect the preferred equity investment. The transaction was sourced off-market.

The five properties are located in markets with growing demand for multifamily housing and limited new supply

  • Landmark at Gleneagles at 4909 Haverwood Lane, Dallas, TX, offers spacious 1 and 2-
    bedroom units, swimming pools with natural landscaping and easy access to shopping,
    dining, and entertainment
  • Stone Ridge at 500 Piccadilly Row, Antioch, TN (a Nashville suburb) offers generously
    sized 1 to 3-bedroom units with patio/balcony, 2 swimming pools and sundeck
  • Hickory Highlands at 100 Hickory Highlands Dr, Antioch, TN, offers 1 and 2-bedroom
    units, 9-foot ceilings, 3 swimming pools, and is located near Percy Priest Lake
  • North Park Apartments at 5237 Tillery Rd, Knoxville, TN, offers 1 to 3-bedroom units and
    a park-like setting with biking and hiking trails
  • The Park at Fountain City at 2132 Adair Dr, in Knoxville, TN offers 1 to 3-bedroom units
    and nearby walking and biking trails

Ryan Everett, Managing Director, Head of Acquisitions of S2 Capital, said, “This transaction is a great representation of how S2 is taking advantage of targeted distress in today’s market. Our vertically integrated operating platform, in tandem with our discretionary capital, positioned us as the preferred partner to step in as the new GP and programmatically address the in place operating issues through the implementation of a new business plan.

“This investment allows us to expand our geographic footprint to Tennessee, where we have planned to invest in the Nashville and Knoxville markets for several years. Our internal data analytics platform projects Southeast Nashville to be a top quartile submarket for investment, given the continued year-over-year demand growth of 11% while supply and permits have plummeted by 80% to less than 2.5% of inventory, coupled with expected strong household formation and in-migration.”

About S2
Founded in 2012, S2 is a Dallas-based multifamily investment platform specializing in value add and core-plus investments. With approximately $11 billion in transaction volume, S2 has acquired over 49,000 units through 145 acquisitions across high-growth domestic markets. S2 is currently targeting opportunities in Texas, Arizona, Colorado, Florida, Georgia, North Carolina, South Carolina, Tennessee, and Virginia, where job and population growth is expected to outpace the national average and contribute to significant renter demand. S2 is a vertically integrated multifamily investment platform with various commingled value-add, closed-end vehicles and one core-plus, open-ended vehicle with skilled teams in acquisitions, construction, operations, asset management, and capital formation working closely together to execute the firm’s business plan. For more information, visit www.s2cp.com.

Media Contacts
media@s2cp.com

S2 Capital Promotes Five Professionals to Managing Director and Three to Vice President

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S2 Capital Promotes Five Professionals to Managing Director and Three to Vice President

The firm also welcomes one new Managing Director

 Dallas, TX, December 11, 2024 – S2 Capital (“S2”), a vertically integrated multifamily investment manager, announced the promotion of eight professionals to senior positions and a new hire. Underscoring the firm’s continued growth and expansion, most of these promotions are for individuals in offices across the United States. 

Scott Everett, CEO of S2 Capital, said, “It is my pleasure to announce these five well-deserved promotions to Managing Director and to welcome a new Managing Director. They are proven, dynamic leaders with a demonstrated record of excellence and commitment to the success of S2 and our investors. I also want to recognize our newly promoted Vice Presidents for their success and their new roles in S2’s acquisitions and asset management operations.” 

The promotions and new appointment are as follows: 

Managing Director & Head of Acquisitions – Ryan Everett – Dallas, TX 
Managing Director, Acquisitions – Michael Bippus – Atlanta, GA 
Managing Director & Head of Capital Formation & IR – Patrick Connell – Greenwich, CT 
Managing Director, Head of Asset Management – Cole Stephens – Dallas, TX 
Managing Director, Accounting – Dilliana Stewart – Dallas, TX (new hire) 
Managing Director, Portfolio Management – Jared Everett – Dallas, TX 
Vice President, Asset Management – Brooks Teeter – Dallas, TX 
Vice President, Acquisitions – Cole Ortega – Denver, CO 
Vice President, Acquisitions – Will Foster – Charlotte, NC 

About S2
Founded in 2012, S2 is a Dallas-based multifamily investment platform specializing in value-add and core-plus investments. With approximately $10 billion in transaction volume, S2 has acquired over 48,000 units through 140 acquisitions across high-growth domestic markets. S2 is currently targeting opportunities in Texas, Arizona, Colorado, Florida, Georgia, North Carolina, South Carolina, Tennessee, and Virginia, where job and population growth is expected to outpace the national average and contribute to significant renter demand. S2 is a vertically integrated multifamily investment platform investing through its series of commingled value-add, closed-end vehicles and one core-plus, open-ended vehicle with skilled teams in acquisitions, construction, operations, asset management, and capital formation working closely together to execute the firm’s business plan. For more information, visit www.s2cp.com.

Media Contacts
media@s2cp.com

S2 Capital Acquires ‘The Landing at Pleasantdale’ in Suburban Atlanta

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S2 Capital Acquires ‘The Landing at Pleasantdale’ in Suburban Atlanta

The 618-unit purchase marks $500M of acquisitions in the past 12 months

Dallas, TX, November 11, 2024 – S2 Capital (“S2”), a national vertically integrated multifamily investment manager, today announced its acquisition of ‘The Landing at Pleasantdale’ (“Pleasantdale”). The property comprises 618 garden-style apartments in 72 buildings in an attractive, tree-filled, gated community on over 75 acres. Built in 1985, Pleasantdale is located at 3497 Meadowglenn Village Lane in Doraville, GA, a northeast Atlanta suburb. It was acquired through CBRE in an off-market direct transaction. Other terms of the transaction were not disclosed.

“Leveraging ALVA, our internal Data & Analytics platform, S2 has built conviction in the NE Atlanta submarkets,” said Scott Everett, CEO of S2 Capital. “Data suggests an inversion of the supply-demand imbalance, leading to significant positive absorption for Atlanta in conjunction with the first positive YoY occupancy gain in Q324 since Q122. Additionally, current effective rents sit $280 below comparable market properties, having witnessed a -12% drop in rents onsite YoY while surrounding comps have increased +1%, giving S2 conviction in their ability to execute their value-add business plan and deliver a superior living experience to tenants.”

Michael Bippus, VP of Acquisitions at S2 Capital, said, “We have invested in more than 1,400 units in four properties in northeast Atlanta within five miles of Pleasantdale, and a fifth property nine miles northwest in Sandy Springs, and continue to seek opportunities to build our portfolio to increase our operational economies of scale. We will complete a value-add renovation program at Pleasantdale that has proven successful for the other assets in our portfolio.”

Pleasantdale is convenient to I-85 and is a 30-minute drive to Atlanta. Doraville also has train service to both Atlanta and the Hartsfield-Jackson International Airport, about 25 miles southwest. Close by Doraville are top universities, including Emory University and Georgia State University, and employers such as Delta Air Lines, Amazon, Primerica, Americold, KIA Motors and Northside Hospital. The expansion of industrial parks along I-85 is expected to fuel job creation, with projections the region could see an increase of over 50,000 new logistics and transportation jobs in the next decade.

The spacious residences at Pleasantdale offer one, two and three-bedroom options, up to 1,543 square feet, with vaulted ceilings and washer/dryer connections. The apartments also include a private patio or balcony, fireplace, large closets and extra storage. Exterior amenities include a unique covered recreational dome, soccer field, pool, fitness center and dog park. Peachtree Creek runs adjacent to the property, and within a short distance is Murphey Chandler Park and Brook Run Park. Pleasantdale is also surrounded by a variety of retail, dining, and entertainment choices in Chamblee, Brookhaven, and Perimeter Mall.

Approximately 10% of the units at Pleasantdale have been fully renovated, and S2 plans to renovate the remaining 90% of classic units to compete with comparable renovated properties in the submarket, and to provide residents with a superior living experience. Interior renovations will include stainless steel appliances, granite countertops, upgraded lighting and new flooring. Exterior renovation plans will feature extensive upgrades across the property.

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 48,000 units through 140 acquisitions across high-growth domestic markets. S2 is currently targeting opportunities in Texas, Arizona, Colorado, Florida, Georgia, North Carolina, South Carolina, Tennessee and Virginia, where job and population growth is expected to outpace the national average and contribute to significant renter demand. 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. For more information, visit www.s2cp.com.

Media Contacts
media@s2cp.com

S2 Capital Acquires ‘Dartmouth Woods’ Multifamily Community in Suburban Denver, Colorado

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S2 Capital Acquires ‘Dartmouth Woods’ Multifamily Community in Suburban Denver, Colorado

South Lakewood property marks firm’s expansion into Colorado

Dallas, TX, September 9, 2024 – S2 Capital (“S2”), a national vertically integrated multifamily investment manager, today announced the acquisition of Dartmouth Woods, a 201-unit, garden-style multifamily apartment community built in 1990 and located in South Lakewood, one of the most attractive submarkets of Denver, CO. Terms of the transaction were not disclosed.

Dartmouth Woods is located at 10025 W. Dartmouth Avenue in Lakewood. The property consists of modern two- and three-story buildings in an area of robust demographics with an average household income of $107,000, a median home price of $585,000 and highly-rated schools. S2 plans interior renovations that will include stainless steel appliances, modern lighting, new flooring and updated cabinets along with extensive renovations to the exterior and amenities to provide residents an enhanced living experience.

Ryan Everett, Vice President of Acquisitions at S2 Capital, said, “We have been evaluating potential transactions in the Denver market for two years and are very excited to be making our first investment in the area. Including the Dartmouth Woods transaction, S2 has acquired 1,865 units across Texas, North Carolina, Florida and now Colorado over the last 12 months. This represents $300+ million of total acquisitions the past 12 months, positioning the firm as a top-25 buyer of multifamily in Sunbelt markets.”

“Our conviction remains strong that multifamily has become attractively repriced in the short term due to excessive leverage in the system and pressure from interest rates on property cash flows, but the long-term outlook for housing in our target markets remains a compelling investment thesis at these prices for well capitalized investors,” added Ryan Everett.

S2 believes that the sharp reduction in new construction permits and starts, interest rate cuts signaled by the Federal Reserve, and various levels of stress, present a unique moment for investors with discretionary vehicles who are well-positioned to capitalize on these opportunities.

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 140 acquisitions across high-growth domestic markets. S2 is currently targeting opportunities in Texas, Arizona, Colorado, Florida, Georgia, North Carolina, South Carolina, Tennessee and Virginia, where job and population growth is expected to outpace the national average and contribute to significant renter demand. 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. For more information, visit www.s2cp.com.

Media Contacts
media@s2cp.com