S2 Capital acquires two multifamily properties in Florida and Texas

S2 Capital (S2) announced the acquisitions of two multifamily properties, Belle Rive Club Apartments in Jacksonville, Fla., and Vineyard Hills in Austin. Terms of the transactions were not disclosed.

“The Austin and Jacksonville markets continue to demonstrate population and job growth, and combined with the repricing taking place in the multifamily sector, we believe these two properties have attractive risk/reward profiles and are an excellent value,” said Ryan Everett, vice president of acquisitions at S2. “We are planning operational improvements and value-added upgrades and renovations to both Vineyard Hills and Belle Rive Club Apartments.”

The 104-unit Belle Rive Club Apartments at 8715 Belle Rive Blvd in Jacksonville features one- and two-bedroom layouts, with modern appliances, air conditioning, a combination of hardwood floors and carpet, in-unit washers and dryers and a balcony or patio in select units. Residents also access community amenities includ