S2 Multifamily Fund

S2 Multifamily Fund :

Total number of units: 6630

Site Location

 

800 Link Apartments (440 units)
800 Link Drive, Duncanville, Texas

Casa Valley Apartments (150 units)
500 Santa Fe Trail, Irving, Texas

Huntington Lakes Apartments (405 units)
7324 Skillman Street, Dallas, Texas

Hidden Lake Apartments (440 units)
900 Henderson Avenue, Houston, Texas

Summer Meadow Apartments (389 units)
6000 Ohio Drive, Plano, Texas

Cimarron Parkway Apartments (272 units)
22022 Cimarron Parkway, Katy, Texas

Cinnamon Park Apartments (272 units)
2612 Cinammon Park Circle, Arlington, Texas

Preston Greens Apartments (257 units)
5990 Arapaho Road, Dallas, Texas

Spring Creek Apartments (236 units)
1802 Apollo, Garland, Texas

Springfield Apartments (264 units)
2305 Driftwood Drive, Mesquite, Texas

Silverado Apartments (344 units)
1335 Silverado Drive, Houston, Texas

Canyon Ridge Apartments (164 units)
1000 W Yellow Jacket Lane, Rockwall, Texas

The Fund consists of 21 properties totaling 6,630 units across DFW, Houston, Atlanta, and Jupiter Isle, FL. S2 has called for 100% of the total committed capital for the Fund and in July 2024, offered a $65 million Preferred Equity Investment opportunity (in place of a capital call) to investors to facilitate loan modifications and/or refinancing of 19 of the 21 property loans in the portfolio along with other payables. The Preferred Equity investment has an 18%, non-compounding, annual preferred return, and sits ahead of the original equity in the capital stack. The offering was fully subscribed and Panther LP’s funded their pro rata amount ($2.25 million) of the investment in July 2024 (S2 contributed $12 million of its own money as well).