Marks the national multifamily investment firm’s fifth investment in this growing city
DALLAS, Dec. 14, 2023 /PRNewswire/ — S2 Capital (“S2”), a vertically integrated multifamily investment manager, today announced it has acquired Timber Creek, a 352-unit multifamily property located in Charlotte, North Carolina, and represents S2’s eighth property in the state. Financial terms of the transaction were not disclosed.
Davey Leach, Vice President of Acquisitions at S2, said, “S2’s multifamily investment approach targets high-growth markets across the U.S., and our team is always searching for attractive properties in flourishing cities like Charlotte. We’re pleased to be making our fifth acquisition in Charlotte with Timber Creek, and look forward to enhancing the property while growing our footprint in North Carolina.”
Located at 1100 Falls Creek Lane, Timber Creek sits within the Collingwood neighborhood, six miles southwest of downtown Charlotte. The attractive and expanding Charlotte market has a below-average cost of living, a thriving restaurant and entertainment scene and is a hub for financial services and banking. Charlotte continues to see strong employment growth across industries, with major employers including Amazon, Atrium Health and Bank of America, along with over twelve colleges and universities in and around the metropolitan area. These solid underlying fundamentals and growth trajectory contributed to S2’s acquisition of Timber Creek.
Timber Creek includes studio, one- and two-bedroom floorplans, with finishes such as stainless-steel appliances, large closets, smart thermostats and more. In the property’s community spaces, residents have access to desirable community amenities including an outdoor swimming pool, grilling station, clubhouse and equipped fitness center, a dog park and nature trail, as well as proximity to the Lynx Blue Line light rail system that runs throughout Charlotte.
Following its acquisition of Timber Creek, S2 plans to rebrand the property as The Marley. Additionally, S2 plans to make exterior renovations to the buildings and outdoor amenities, as well as upgrade unit interiors with a competitive set of modern finishes.
Founded in 2012, S2 is a Dallas-based national multifamily investment platform specializing in value-add, opportunistic, and distressed investments. With approximately $10 billion in transaction volume, S2 has acquired about 46,000 units through 134 acquisitions and has successfully invested over $500 million in upgrades and renovations. S2 is a vertically integrated multifamily investment platform with skilled teams in acquisitions, capital formation, construction, asset management, and operations working closely together to execute the firm’s business plan. The firm concentrates its investments in the U.S. Sunbelt, including Arizona, Florida, Georgia, North Carolina, and Texas, where job and population growth is expected to outpace the national average and contribute to significant renter demand. For more information, visit www.s2cp.com.
SOURCE S2 Capital
Originally published at https://www.prnewswire.com/news-releases/s2-capital-acquires-timber-creek-multifamily-property-in-charlotte-nc-302015579.html
Images courtesy of https://pixabay.com