S2 Capital Acquires Two Dallas Area Multifamily Communities
S2 Capital, a national multifamily investment platform, has acquired a two-property portfolio in the Dallas metro area. The portfolio includes Legends on Lake Highlands, a 356-unit multifamily community in East Dallas, and Carrollton Oaks, a 320-unit apartment complex in Carrollton, TX. S2 stated that it is making this investment from its fund, S2 Multifamily Value-Add Fund 1. Terms of the transaction were not disclosed.
Built in 1979 and located at 11201 Lake Highlands Drive on 12 acres, Legends on Lake Highlands is a two-story garden style apartment complex n the submarket of East Dallas. Carrollton Oaks is a two-story garden style apartment community built in 1981, is located at 2500 Guerrero Drive.
Over the next two years, Dallas-based S2 expects to spend approximately $5 million per property in renovations. Lauren Bresky and Lauren Heikenfeld of Northmarq helped secure financing for S2. Taylor Snoddy of Northmarq represented the seller throughout the transaction.
Erik Hamilton, who has more than 15 years in CRE journalism, is a former staff writer with the Los Angeles Times and the Orange County Business Journal. In addition to The Times and the OCBJ, he was also a reporter and editor for Crittenden Research, The San Bernardino Sun and UPI. Erik also worked six years in CRE public relations with Los Angeles-based Hoyt Organization, where he was a Senior Account Executive. He later joined Lee & Associates where he served as the Director of Corporate Communications. There ,in addition to his work with Lee’s CEO, he managed 57 offices nationwide and provided PR, social media and media training for the offices. A graduate of UC Irvine, with a BA in history, he is an avid record collector where he continues to search for a rare Joy Division single.
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