S2 Capital announced today the acquisition of the Hub and Montage Apartments in Oak Lawn, a 636-unit apartment complex located at 3136 Hudnall St. in Dallas.
“We’re heavy ‘value-add’ renovators and this investment supports our strategy of acquiring high-potential properties in top growth markets,” said Scott Everett, CEO of S2 Capital. “Due to its central location on the fringe of Uptown, Oak Lawn is experiencing a lot of growth. We plan to renovate this property to provide modernized, affordable housing in this infill submarket.”
The Dallas-based real estate investment company plans to spend significant dollars on renovations for this Oak Lawn property. The properties will be re-branded and operated as one community, will feature new common areas, apartment interiors and amenities that will position is as the best value for tenants in this submarket.
Berkadia’s investment sales team and capital markets group facilitated the sale and secured financing for the buyer. S2 has acquired 25,000 units since 2012, totaling $3 billion in portfolio value throughout Texas, Florida, and Arizona. S2 currently has 1,100 units under contract for close in Q4. For more information, visit S2cp.com.
About S2 Capital, LLC
S2 Capital was founded in 2012 to build a national multifamily investment platform specializing in value add multifamily properties. Its affiliate, S2 Construction LLC, has managed construction/rehabilitation at all of its projects. S2 attributes its success to its people, creating relationships with industry leading investment and banking partners, staying disciplined in their investment strategy, and focusing on driving innovation, distinction, and excellence through all facets of multifamily ownership. S2 was ranked the “Fastest-Growing Real Estate Company in the U.S.” by Inc. Magazine two years in a row, was voted a “Top 100 Places to Work” by Dallas Business Journal and ranked 21st nationally for “2018 Best Places to Work” by Multifamily Leadership. For more information, visit S2cp.com or call 214.646.9901.