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.
Strategic acquisition allows S2 to expand its investment platform across another high-conviction theme in the real estate sector
DALLAS, TX — S2 Capital (“S2”), a national vertically integrated real estate investment manager, today announced the acquisition of Fort Capital (“Fort”), a Texas-based industrial real estate owner and operator. The acquisition marks a significant milestone in S2’s continued growth of its investment platform with a new wholly owned industrial vertical comprising 11 million square feet and a 50-person investment team.
S2 has hired industry veterans Chris Roach and Parker McCormack to lead the new investment vertical as President and CIO of the industrial platform alongside S2’s Founder & CEO, Scott Everett. The platform will focus on acquiring and managing value-add and core-plus industrial assets in high-growth markets across the US, with an emphasis on shallow-bay infill industrial.
“Our vision is to build an industrial platform that matches the scale and operational excellence S2 is known for in residential,” said Chris Roach, President of S2 Industrial. “Adding Fort to our platform accelerates that vision — their talented team complements ours culturally, and their portfolio grants us immediate scale to compete in this competitive sector.”
“We’re thrilled this acquisition allows us to provide an additional strategy to offer our investors who are seeking to enhance their portfolio returns in a high-growth sector with needs-based resiliency. The continued rapid growth of e-commerce, combined with rising transportation costs, is driving the need for proximity to consumers. This correlates well with our residential strategy of “following rooftops” across the country,” says Everett. “We knew we needed the right people, the right strategy, and the right partners. Fort brings local expertise, an impressive portfolio and track record, and a culture that aligns with ours. This partnership is another step forward in our mission of delivering outperformance for our investors.”
Founded in 2010 and headquartered in Fort Worth, Fort has built a reputation as one of the most active and well-regarded industrial real estate operators in Texas. The firm currently owns and manages over 11 million square feet of high-performing assets, driven by its disciplined investment strategy, deep market knowledge, and long-standing relationships with tenants, brokers, and capital partners.
“The sale to S2 is an exciting next step for Fort and our investors,” said Chris Powers, Founder of Fort Companies. “We’ve always prided ourselves on being entrepreneurial, strategic, and forward-thinking — and those values are deeply aligned with S2’s approach. This partnership supercharges what both platforms can accomplish.”
The combined industrial platform now manages and operates over 11 million square feet with an active pipeline of over $350 million in targeted acquisitions. Together with S2’s capital markets infrastructure and in-house operating capabilities, the team is positioned to move quickly on institutional-quality opportunities in undersupplied logistics markets.
The transaction is expected to close on August 11, 2025, subject to customary closing conditions.
About S2 Capital
Founded in 2012, S2 Capital is a Dallas-based real estate investment platform specializing in multifamily and industrial across value-add and core-plus strategies. With approximately $11 billion in transaction volume, S2 has acquired and operated over 50,000 multifamily units, maintaining a fully integrated platform that encompasses acquisitions, development, capital formation, construction, asset management, and property management. S2 is committed to investing in assets where the hands-on approach can drive long-term value through every stage of the real estate lifecycle. For more information, visit www.s2cp.com.
Media Contact
media@s2cp.com
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.
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
