Phoenix & Southwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
S2 Capital Picks Up First CO Apartment Community
S2 Capital paid $52 million dollars for a 201-unit Lakewood apartment complex.
Dartmouth Woods, at 10025 W. Dartmouth Ave., is a garden-style community built in 1990. It features two- and three-story buildings. The purchase by S2 Capital represents the multifamily investment groups expansion into Colorado.
The Business Journal reports Dartmouth Woods last sold in 2016 for almost $14.2 million.
S2 Capital will renovate the units, including installing stainless steel appliances, new flooring, modern lighting and updated cabinetry. It also plans extensive renovations to the exteriors of the buildings and to the amenities provided to residents.
The apartment community is situated near Bear Creek High School and Bear Creek Lake Park. It offers one- and two-bedroom floorplans ranging from 700 to 1,085 square feet. Rent ranges from $1,545 to $2,022 per month.
Dallas-based S2 Capital recently acquired 1,865 units in Texas, North Carolina, Florida, and now Colorado, representing over $300 million spent over the last 12 months.
- ◦Sale/Acquisition
