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S2 Capital Acquires Two N. Texas Apartment Communities
Combined S2 Capital (“S2”) added 768 units to its inventory in North Texas. It acquired Falltree, a 126-unit multifamily property located in Mesquite, Texas, and Silverbrook, a 642-unit multifamily property located in neighboring Grand Prairie, Texas.
S2’s Ryan Everett added, “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”. Both of these new acquisitions are located within a few miles of other multifamily assets owned by S2. S2 says it tries to acquire properties close to each other to provide economies of scale in operating costs.
All 768 units will receive interior improvements and S2 plans enhancements to the exterior amenities in both.
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