S2 Capital, LLC acquired 352-unit multifamily property located in Charlotte from NexPoint Residential Trust, Inc. for $24.5 million.
December 13, 2023
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S2 Capital, LLC acquired 352-unit multifamily property located in Charlotte from NexPoint Residential Trust, Inc. (NYSE:NXRT) for $24.5 million on December 13, 2023. Following its acquisition of Timber Creek, S2 plans to rebrand the property as The Marley. The Company used the net proceeds from the sale to make a $17 million paydown on the Company's corporate credit facility on December 15, 2023.
S2 Capital, LLC completed the acquisition of 352-unit multifamily property located in Charlotte from NexPoint Residential Trust, Inc. (NYSE:NXRT) on December 13, 2023.
NexPoint Residential Trust, Inc. is a real estate investment trust (REIT). The Company is primarily focused on acquiring, owning and operating well-located middle-income multifamily properties with value-add potential in large cities and suburban submarkets of large cities, primarily in the Southeastern and Southwestern United States. The Companyâs investment objectives are to maximize the cash flow and value of properties owned, acquire properties with cash flow growth potential, provide quarterly cash distributions and achieve long-term capital appreciation for its stockholders through targeted management and a value-add program. The Company may allocate up to 30% of the portfolio to investments in real estate-related debt and securities with the potential for high current income or total returns. These allocations may include first and second mortgages and subordinated, bridge, mezzanine, construction and other loans. It is externally managed by NexPoint Real Estate Advisors, L.P.
NEXPOINT RESIDENTIAL TRUST, INC. 
