#United States #Tampa #S2 Capital #Multifamily #Amberly Place

S2 Capital's Strategic Acquisition of Amberly Place

On May 1, 2025, S2 Capital, a prominent player in multifamily real estate investment, confirmed its purchase of Amberly Place, a well-known 770-unit garden-style apartment community, located in Tampa, Florida. This acquisition marks a significant milestone for S2, pushing their overall acquisitions to over 50,000 units since their inception in 2012.

Acquisition Details

The transaction for Amberly Place was facilitated through a calculated off-market deal orchestrated by Shelton Granade from the Institutional Property Advisors (IPA) brokerage firm, with funding assistance from Harry Krieger at IPA, who helped in securing financing through Freddie Mac.

This acquisition was made under S2’s value-add investment strategy through their S2 Real Estate Fund II, in collaboration with two institutional co-investors, one of which is based overseas in London.

Focus on Growth Markets

Michael Bippus, Managing Director of Acquisitions at S2, emphasized the firm’s enthusiasm about their expansion into Florida, highlighting Amberly Place as a “terrific asset in a top growth market.” Bippus pointed out that the current equity void for substantial value-add housing opportunities has resulted in favorable pricing options for general partners equipped with discretionary capital and strong lending partnerships.

Future Developments

The Amberly Place community, built in 1989, will undergo significant interior renovations aimed at modernizing the original apartments to align with the current design and standards of upgraded units in the community. This initiative also includes enhancing both interior and exterior amenity spaces, alongside addressing deferred capital improvement items for the property’s exterior.

The Tampa Palms community, where Amberly Place is situated, is on the verge of notable population growth in the upcoming years. With high demand for market housing coupled with no anticipated new supply in the area over the next two years, S2 is well-positioned to capitalize on their established value-add strategy to successfully reposition Amberly Place and enhance operational efficiencies.

About S2 Capital

Founded in 2012, S2 Capital operates out of Dallas, focusing on multifamily investments that incorporate both value-add and core-plus strategies. With an impressive $11 billion in transaction volume, S2 has achieved this through 145 acquisitions across prime U.S. markets. Presently, they are actively seeking opportunities in states such as Texas, Arizona, Colorado, Florida, Georgia, North Carolina, South Carolina, Tennessee, and Virginia, where they anticipate job and population growth that exceeds national averages, fueling substantial rental demand.

For up-to-date details about S2 Capital and their investment strategies, interested parties can visit their website at www.s2cp.com.

Conclusion

The acquisition of Amberly Place by S2 Capital not only underscores the firm's growth trajectory in the multifamily sector but also signals its commitment to enhancing living conditions within burgeoning communities. Their calculated approach in identifying valuable assets and implementing strategic renovations is set to position them favorably in the competitive real estate landscape of Florida.