S2 Capital acquires Falltree and Silverbrook multifamily properties in Texas
S2 Capital, a leading multifamily investment manager, has made significant strides in its growth strategy by acquiring two multifamily properties in Texas. The acquisitions include Falltree, a 126-unit multifamily property nestled in Mesquite, Texas, and Silverbrook, a sprawling 642-unit multifamily property located in Grand Prairie, Texas. While the financial details of these transactions remain undisclosed, they mark S2 Capital’s inaugural acquisitions for 2023.
Ryan Everett, Vice President of Acquisitions at S2 Capital, shared insights into the company’s strategic approach, stating, “These deals represent our first acquisitions in 2023, reflecting our deliberate approach amidst evolving pricing and capital market conditions. The favorable basis at which these transactions occurred aligns with our commitment to delivering compelling value to our investors, particularly in markets where we possess deep knowledge.” He added, “Proximity of these new acquisitions to our existing multifamily assets ensures operational efficiencies, enhancing profitability.”
Falltree, positioned on 19200 Lyndon B Johnson Freeway in Mesquite, benefits from its location in the thriving Dallas-Fort Worth submarket, ranking third for rent growth. Its accessibility to major transportation corridors such as I-30 and I-635, along with proximity to retail hotspots like Towne East Mall, Market East, and the Marketplace at Towne Centre, make it an attractive investment. S2 Capital’s strategic vision for Falltree includes a comprehensive repositioning plan, encompassing unit renovations featuring stainless steel appliances, upgraded cabinetry, tile backsplash, granite countertops, wood-style flooring, and contemporary fixtures. Exterior enhancements will encompass a revitalized clubhouse, upgraded swimming pools, added balcony and patio enclosures, refreshed paint, and landscaping.
Silverbrook, located at 2934 Alouette Drive in Grand Prairie, enjoys close proximity to the Epic Center, a 172-acre entertainment district. Its strategic connectivity to Dallas and Fort Worth via I-30, as well as accessibility to the Dallas-Fort Worth airport through President George Bush Turnpike and US-360, positions it as a sought-after investment. S2 Capital’s transformation plan for Silverbrook mirrors the commitment to excellence seen in Falltree, with unit renovations featuring stainless steel appliances, granite countertops, upgraded fixtures, new flooring, tile, and paint. Exterior amenities will undergo a comprehensive facelift, including a redesigned community clubhouse, repurposed tennis courts as pickleball courts, enhanced paint and balcony decking, a dog park, and a revamped swimming pool area complete with grill stations and pergolas.
The acquisitions were facilitated by CBRE, with Danny Baker and William Hubbard representing the sellers, and Harry Krieger securing financing on behalf of S2 Capital. These strategic moves underscore S2 Capital’s dedication to expanding its multifamily portfolio and delivering enhanced value to its investors.