News Summary
S2 Capital has acquired Amberly Place, a significant multifamily community in Tampa, marking a milestone with over 50,000 units acquired since its founding. The property, comprising 770 units, will undergo extensive renovations to enhance value. This strategic move is designed to leverage opportunities in a high-growth market with strong demand for apartments, as new housing supply remains limited in the area.
Tampa, Florida – S2 Capital, a national multifamily investment manager, has successfully acquired the Amberly Place apartment community, a significant addition to its expanding portfolio. This 1989-vintage, garden-style property consists of 770 units and is located in the rapidly developing Tampa market.
The acquisition of Amberly Place marks a notable milestone for S2 Capital, pushing its total number of unit acquisitions to over 50,000 since the company’s founding in 2012. Details regarding the financial terms of the transaction have not been disclosed. The deal was facilitated off-market, with support from Shelton Granade of Institutional Property Advisors (IPA). Harry Krieger of IPA played a key role in assisting S2 Capital in securing financing through Freddie Mac for the acquisition.
Amberly Place was purchased on behalf of S2 Capital’s current value-add fund, known as the S2 Real Estate Fund II, in collaboration with two institutional co-investors, including a group based in London. The acquisition is seen by S2 Capital as a strategic move into a high-growth market, with strong potential for enhanced value.
Michael Bippus, Managing Director of Acquisitions at S2, has noted the significant opportunities present in the large value-add housing sector, indicating a noticeable equity void. This presents unique pricing advantages for investors willing to enhance existing properties.
The Amberly Place community is situated in the Northeast quadrant of the master-planned Tampa Palms neighborhood. S2 Capital has outlined plans for comprehensive interior renovations aimed at upgrading the remaining apartments to match the higher standards set by the already renovated units. In addition to interior improvements, S2 intends to enhance both the interior and exterior amenity spaces and will address deferred capital expenditures through targeted capital improvements.
The Tampa area is anticipated to experience substantial population growth in the coming years, increasing demand for multifamily housing. Industry analysts indicate that there is currently a lack of new housing supply in the vicinity, with no new developments expected in the next 24 months. This presents a favorable environment for S2 Capital’s value-add strategy.
S2 Capital has expressed confidence in successfully executing its established operational platform, which is designed to reposition Amberly Place and enhance its operational efficiencies. As the multifamily housing market continues to evolve, S2 intends to leverage its expertise to maximize the potential of its latest acquisition.
As the dynamics of the Tampa real estate market shift, developments like the acquisition of Amberly Place exemplify strategic investment moves aimed at addressing housing needs while providing significant return potential for investors entering the multifamily sector.
This acquisition not only reflects S2 Capital’s ongoing commitment to expanding its footprint in promising markets but also highlights the company’s focus on creating robust, long-term value through strategic property enhancements and operational improvements.
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HERE Resources
S2 Capital Acquires Amberly Place in Tampa, Florida
S2 Capital Acquires Amberly Place Apartment Complex in Tampa
Additional Resources
- MultifamilyBiz: S2 Capital Completes Acquisition of Amberly Place
- Google Search: S2 Capital Amberly Place
- Multihousing News: S2 Capital Purchases Sun Belt Portfolio
- Google Scholar: S2 Capital
- Business Observer: Investment Firm Benchmark
- Encyclopedia Britannica: Real Estate Investments
- Multihousing News: S2 Capital Buys Atlanta Community
- Google News: Multifamily Housing Trends
- YieldPro: The Grand at Riverside
Author: STAFF HERE TAMPA WRITER
The TAMPA STAFF WRITER represents the experienced team at HERETampa.com, your go-to source for actionable local news and information in Tampa, Hillsborough County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Gasparilla Pirate Festival, Florida State Fair, and Tampa Riverfest. Our coverage extends to key organizations like the Tampa Bay Chamber of Commerce and United Way Suncoast, plus leading businesses in healthcare, finance, and technology that power the local economy such as BayCare Health System, Grow Financial Federal Credit Union, and KnowBe4. As part of the broader HERE network, including HEREJacksonville.com, HEREOrlando.com, HERESTPetersburg.com, and HERETallahassee.com, we provide comprehensive, credible insights into Florida's dynamic landscape.
