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HomeReal EstateS2 Capital Acquires Falltree and Silverbrook, Two Multifamily Properties in Texas

S2 Capital Acquires Falltree and Silverbrook, Two Multifamily Properties in Texas

Located in separate Dallas-Fort Worth submarkets, S2 to apply value-add renovations at each property

DALLAS, Sept. 25, 2023 /PRNewswire/ — S2 Capital (“S2”), a vertically integrated multifamily investment manager, today announced it has acquired Falltree, a 126-unit multifamily property located in Mesquite, Texas; and Silverbrook, a 642-unit multifamily property located in neighboring Grand Prairie, Texas. Terms of the transactions were not disclosed.

“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,” said Ryan Everett, Vice President of Acquisitions. “Both of these new acquisitions are located within a few miles of other multifamily assets owned by S2. Our strategy of geographic proximity of properties provides economies of scale in operating costs, which significantly increases the profitability of these assets.”

Falltree is located east of Dallas on 19200 Lyndon B Johnson Freeway in Mesquite, a submarket ranking third for rent growth among other Dallas-Fort Worth submarkets. The property offers convenient access to the I-30 and I-635 corridors and retail destinations like the Towne East Mall, Market East and the Marketplace at Towne Centre. S2 plans to enhance and reposition Falltree to compete with comparable renovated properties in the submarket, including renovating all units with stainless steel appliances, upgraded cabinetry, tile backsplash, granite countertops, wood-style flooring and contemporary fixtures. Updated exterior amenities will include a renovated clubhouse, swimming pools, added balcony and patio enclosures, paint and landscaping.

Located on 2934 Alouette Drive in Grand Prairie, Silverbrook is near a 172-acre entertainment district called Epic Center, and closely connected to Dallas and Fort Worth via I-30, as well as the Dallas-Fort Worth airport via President George Bush Turnpike and US-360. S2 plans to renovate all units with stainless steel appliances, granite countertops, upgraded fixtures and new flooring, tile and paint. Exterior amenity upgrades will include a reimagined community clubhouse, a tennis court repurposed as pickleball courts, new paint and balcony decking, a dog park and a swimming pool area surrounded by grill stations and pergolas.

CBRE’s Danny Baker and William Hubbard represented the sellers in these transactions. CBRE’s Harry Krieger represented S2 in securing financing.

About S2
Founded in 2012, S2 is a Dallas-based national multifamily investment platform specializing in value-add, opportunistic, and distressed investments. With approximately $10 billion in transaction volume, S2 has acquired about 46,000 units through 134 acquisitions and has successfully invested over $500 million in upgrades and renovations. S2 is vertically integrated, comprised of affiliated businesses, including acquisitions, capital formation, construction, asset management, and operations divisions that work closely together to execute the firm’s business plan. The firm concentrates its investments in the U.S. Sunbelt, including Arizona, Florida, Georgia, North Carolina, and Texas, where job and population growth is expected to outpace the national average and contribute to significant renter demand. For more information, visit www.s2cp.com.

Media Contacts
Lisa Baker
[email protected]
(603) 868-1967

Megan Bowman
[email protected]
(616) 780-1610

SOURCE S2 Capital

Originally published at https://www.prnewswire.com/news-releases/s2-capital-acquires-falltree-and-silverbrook-two-multifamily-properties-in-texas-301936988.html
Images courtesy of https://pixabay.com

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