S2 Capital acquires Falltree and Silverbrook, two multifamily properties in Texas
S2 Capital announced it has acquired Falltree, a 126-unit multifamily property located in Mesquite, Texas, and Silverbrook, a 642-unit multifamily property located in neighboring Grand Prairie, Texas. Terms of the transactions were not disclosed.
Falltree is located east of Dallas on 19200 Lyndon B Johnson Freeway in Mesquite, a submarket ranking third for rent growth among other Dallas–Fort Worth submarkets. The property offers access to the Interstate 30 and Interstate 635 corridors and retail destinations like the Towne East Mall, Market East and the Marketplace at Towne Centre. S2 plans to enhance and reposition Falltree to compete with comparable renovated properties in the submarket, including renovating all units with stainless steel appliances, upgraded cabinetry, tile backsplash, granite countertops, wood-style flooring and contemporary fixtures. Updated exterior amenities will include a renovated clubhouse, swimming pools, added balcony and patio enclosures, paint