S2 Capital, a private investment firm focused on residential real estate, has added Patrick Connell to the firm as head of capital formation and investor relations.
The Dallas-based manager has raised $400m for its first fund and, having completely deployed the vehicle, plans to go back to fundraising later this year.
The portfolio includes Legends on Lake Highlands, a 356-unit multifamily community in East Dallas, and Carrollton Oaks, a 320-unit apartment complex in Carrollton, Texas.
Dallas-based multifamily firm S2 Capital bought an apartment complex near Jupiter for $127 million, marking continued investor appetite for rentals in South Florida’s robust market.
S2 Capital has purchased an Atlanta-area multifamily portfolio from Turner Impact Capital. The four properties, totaling 1,406 market-rate apartments, were acquired with the company’s S2 Multifamily Value-Add Fund 1.
“In October 2020, we started fielding an insane number of calls from huge investors that had never invested in Sunbelt markets,” Everett says.