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Thursday, 05 April 2018

S2 Capital Plans on Investing $500Mln in Apartment Properties in 2018

S2 Capital LLC plans to invest about $500 million this year in properties in Florida and Texas that were built in the 1970s or 1980s. That would be a 25 percent increase in acquisition volume from last year. The Addison, Texas, investment manager pursues older apartment properties that it could upgrade in order to generate greater rents.

Commercial Real Estate Direct Staff Report

S2 Capital LLC plans to invest about $500 million this year in apartment properties in Florida and Texas that were built in the 1970s or 1980s and need renovations.

That would be a 25 percent increase in acquisition volume from last year, when the company made $400 million of investments in 12 properties with 5,700 units.

The Addison, Texas, investment manager, which raises capital through a network of high net-worth individuals, also ventures on deals with institutional investors. It also raises about 70 percent of the value of its properties with mortgages from banks or the housing-finance agencies.

The company was founded six years ago by managing partner Scott Everett, who previously had provided brokerage and development services through his Royal Ventures LLC. Skip Bird, a former principal with Lone Star Funds who had been...


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