Investment firm hits 50K-home benchmark with Tampa multifamily complex

Dallas-based S2 Capital, a multifamily investment firm, announced Thursday its acquisition of a Tampa apartment complex.

Amberly Place, a 770-unit community located in the Tampa Palms neighborhood, was bought off-market and financial details were not disclosed.

A spokesperson for the company declined to share the sale price.

Institutional Property Advisors brokered the deal via Freddie Mac financing and includes two overseas co-investors that were unnamed. The purchase puts the firm at the milestone of 50,000 homes acquired.

"We are excited to add to our activity in Florida with this terrific asset in a top growth market for us. The equity void for large value-add housing acquisitions has created a unique pricing opportunity for GPs with discretionary capital and deep lending relationships, and we are delighted to acquire an asset that fits so squarely in our wheelhouse,” Michael Bippus, managing director of acquisitions says in a statement.

S2 Capital was founded in 2012 and has approximately $11 billion in transaction volume according to the company. It has completed 145 acquisitions and is seeking opportunities in growth markets in Texas, Arizona, Colorado, Florida, Georgia, North Carolina, South Carolina, Tennessee and Virginia.