S2 Capital wins $50m in financing for Jacksonville multifamily investment

by   CIJ USA
2017-12-13   15:29
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Texas-based S2 Capital has secured a $50.3 million loan for Matthews Crossing, a Class B multifamily property in Jacksonville, Fla. Located at 400 Century 21 Drive, the 1,103 unit asset includes five swimming pools, a playground, fitness center and business center. The community, which is close to The University of North Florida and Jacksonville University, plans to take advantage of the recent opening of Amazon’s second fulfillment center in Jacksonville which is expected to generate 2,500 new jobs for the city by the end of 2019. Walker & Dunlop's Managing Director Alex Inman based in the company’s Dallas office, led the lending team that arranged the financing.

“This was the sponsor’s first acquisition in this market, so we knew it would be a challenge to identify a lender that would be the right fit for the deal. However, given our robust relationships in the capital markets space, we were able to identify a lender that exceeded all expectations,” said Inman, in a prepared statement.