S2 to Revamp, Rebrand Newly-Acquired Charlotte Rental Property

S2 Capital is planning renovations after acquiring an apartment community in Charlotte’s Collingwood neighborhood. The firm closed on a $49 million Timber Creek Apartment Homes purchase from Texas-based Highland Capital Management.

S2 intends to rebrand the property The Marley. Various renovations are planned for the buildings’ exterior facade and outdoor amenities as well as unit interiors, appliances and finishes. The Charlotte Business Journal says the firm did not provide an estimated investment amount.

S2’s Davey Leach said the firm’s investment approach targets markets across the country like Charlotte with high-growth multifamily opportunities, “We’re pleased to be making our fifth acquisition in Charlotte with Timber Creek and look forward to enhancing the property while growing our footprint in North Carolina,” he said.

The 352-unit 1100 Falls Creek Lane property has studio, one- and two-bedroom apartments. It includes a swimming pool, grilling station, clubhouse, fitness center, dog park and nature trail.