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S2 Capital Acquires Four Properties in Atlanta Multifamily Portfolio
S2 Capital, LLC, has acquired a four-property portfolio of multifamily communities in Atlanta and Norcross, GA.
Mark Brandenburg, Lauren Dow and Michael Cosby at JLL helped secure financing for Dallas, TX-based S2. Nathan Swenson and Brooks Colquitt at Cushman & Wakefield represented the seller.
“The Atlanta area is a great fit for our value-add strategy targeting workforce housing, particularly in the Northlake/Norcross submarket where almost 40% of residents are renters,” said Davey Leach, VP of Acquisitions at S2. “The opportunity to renovate four properties in the same submarket to a similar standard leads to immediate economies of scale that will benefit our tenants as well as our investors.”
S2 expects to spend $5 million in renovations at each of the 1980s two-story, garden-style communities.
- Cornerstone Apartment Homes, 344 units, Atlanta
- Sonoma Ridge Apartment Homes, 440 units, Atlanta
- Pointe at Norcross, 320 units, Norcross
- Woodland Ridge Apartments, 302 units, Norcross
Photo: Woodland Ridge Apartments
- ◦Sale/Acquisition
