press releases

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

Marks the national multifamily investment firm’s fifth investment in this growing city

Dallas, TX, December 14, 2023 – S2 Capital (“S2”), a vertically integrated multifamily investment manager, today 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.

Davey Leach, Vice President of Acquisitions at S2, said, “S2’s multifamily investment approach targets high-growth markets across the U.S., and our team is always searching for attractive properties in flourishing cities like Charlotte. We’re pleased to be making our fifth acquisition in Charlotte with Timber Creek, and look forward to enhancing the property while growing our footprint in North Carolina.”

Located at 1100 Falls Creek Lane, Timber Creek sits within the Collingwood neighborhood, six miles southwest of downtown Charlotte. The attractive and expanding Charlotte market has a below-average cost of living, a thriving restaurant and entertainment scene and is a hub for financial services and banking. Charlotte continues to see strong employment growth across industries, with major employers including Amazon, Atrium Health and Bank of America, along with over twelve colleges and universities in and around the metropolitan area. These solid underlying fundamentals and growth trajectory contributed to S2’s acquisition of Timber Creek.

Timber Creek includes studio, one- and two-bedroom floorplans, with finishes such as stainless-steel appliances, large closets, smart thermostats and more. In the property’s community spaces, residents have access to desirable community amenities including an outdoor swimming pool, grilling station, clubhouse and equipped fitness center, a dog park and nature trail, as well as proximity to the Lynx Blue Line light rail system that runs throughout Charlotte.

Following its acquisition of Timber Creek, S2 plans to rebrand the property as The Marley. Additionally, S2 plans to make exterior renovations to the buildings and outdoor amenities, as well as upgrade unit interiors with a competitive set of modern finishes.

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 about 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 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, and Texas, 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

Located in separate Dallas-Fort Worth submarkets, S2 to apply value-add renovations at each property

Dallas, TX, September 25, 2023 – S2 Capital (“S2”), a vertically integrated multifamily investment manager, today announced it has acquired Falltree, a 126-unit multifamily property located in Mesquite, Texas; and Silverbrook, a 642-unit multifamily property located in neighboring Grand Prairie, Texas. Terms of the transactions were not disclosed.

“These deals mark the first acquisitions for S2 in 2023 as we have remained very patient with our capital as pricing and capital markets continue to deteriorate. These deals transacted at a basis that felt very compelling for our investors in markets we know extremely well,” said Ryan Everett, Vice President of Acquisitions. “Both of these new acquisitions are located within a few miles of other multifamily assets owned by S2. Our strategy of geographic proximity of properties provides economies of scale in operating costs, which significantly increases the profitability of these assets.”

Falltree is located east of Dallas on 19200 Lyndon B Johnson Freeway in Mesquite, a submarket ranking third for rent growth among other Dallas-Fort Worth submarkets. The property offers convenient access to the I-30 and I-635 corridors and retail destinations like the Towne East Mall, Market East and the Marketplace at Towne Centre. S2 plans to enhance and reposition Falltree to compete with comparable renovated properties in the submarket, including renovating all units with stainless steel appliances, upgraded cabinetry, tile backsplash, granite countertops, wood-style flooring and contemporary fixtures. Updated exterior amenities will include a renovated clubhouse, swimming pools, added balcony and patio enclosures, paint and landscaping.

Located on 2934 Alouette Drive in Grand Prairie, Silverbrook is near a 172-acre entertainment district called Epic Center, and closely connected to Dallas and Fort Worth via I-30, as well as the Dallas-Fort Worth airport via President George Bush Turnpike and US-360. S2 plans to renovate all units with stainless steel appliances, granite countertops, upgraded fixtures and new flooring, tile and paint. Exterior amenity upgrades will include a reimagined community clubhouse, a tennis court repurposed as pickleball courts, new paint and balcony decking, a dog park and a swimming pool area surrounded by grill stations and pergolas.

CBRE’s Danny Baker and William Hubbard represented the sellers in these transactions. CBRE’s Harry Krieger represented S2 in securing financing.

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 about 46,000 units through 134 acquisitions and has successfully invested over $500 million in upgrades and renovations. S2 is vertically integrated, comprised of affiliated businesses, including acquisitions, capital formation, construction, asset management, and operations divisions that work 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, and Texas, 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