S2 Capital has acquired Residences at Preston Park, a 266-unit multifamily community in Plano, Texas. S2, a national value-add multifamily investor with more than $9 billion in transaction volume, is making this investment from its fund, S2 Multifamily Value-Add Fund 1.
Terms of the transaction were not disclosed.
Residences at Preston Park is a three-story garden/townhomes style apartment built in 1995, set on approximately 15 acres, with an average unit size of 1,114 square feet. S2 Capital is poised to elevate the property’s renter profile via hands-on residential management, asset management, and construction management. The proposed interior and exterior renovation plans anticipate spending more than $4 million to make select premium renovations.
Located at 4701 Preston Park Boulevard, the property provides residents access to the highly ranked Plano Independent School District and is convenient to major employment nodes such as Legacy, Frisco, Uptown/Do
