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.
Dallas-based national multifamily investor, S2 Capital has added 14 properties to its portfolio that spans both Dallas-Fort Worth and Houston—totaling 4,455 units with a total of 11 properties based here in North Texas.
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.
“In October 2020, we started fielding an insane number of calls from huge investors that had never invested in Sunbelt markets,” Everett says.
The hot North Texas rental housing market is attracting billions of dollars in investor buys.