Property Management IndexCompare managers
Property Management Index / Managers

S2 Capital.
Owner-operator.

2801 N Harwood St #1800, Dallas, TX 75201 · Founded 2012 · s2cp.com
Show properties in
Changes property counts, units, ratings and maps. Company facts like people, legal events and fees are firm-wide.
Investor snapshotThe questions to ask before you hireSources ↓
Can you hire them for your building?
Rarely
Mainly runs buildings it owns[10][12]
How big are they?
28,000 units
Firm's own total[43][40] · we count 6,599+ units in 51+ properties · our count
What do residents say?
3.7 on Google
9,898 reviews · 2025: 3.4 → 2026: 4.2
Legal or regulatory trouble lately?
1 event since 2023
lawsuit · details
What does management cost?
3.5% paid to the in-house manager
Property management fee (2026 continuation vehicle)[28][48]
Who runs DFW locally?
Marc Everett, Edgar Cabrera +18
Chief Operating Officer · Managing Director, Property Management, Residential · team
Growing or shrinking?
contracting
22,000 units (2021) → 28,000 (2026)[20][27][29][28]
Who owns the firm?
Founder-owned
No parent company

Dots are a quick visual read of the facts next to them, not a grade. DFW numbers are our own count from county records, HUD and firms' own sites.

Years in business
14[10][14]
Employees
750[10]
Units nationally
28,000[43][40]
Assets under management
$6B in multifamily assets under management (September 2022, firm press release); more than 8M sq ft of industrial assets under management (May 2026, firm press release)[41][42]
Property typesmultifamilyindustrial[10][14]
SpecialtiesValue-add repositioning of older Class B garden-style apartmentsRescue capital and general partner takeovers of distressed multifamilyIndustrial property management and leasing (Fort Management)[15][16][17][10]
MarketsDallas-Fort Worth, TX · since 2012Houston, TXPhoenix, AZNashville, TNKnoxville, TN[10][15][30][18][16]
01Overview

S2 Capital is a Dallas-based apartment investor founded by Scott Everett in 2012. It buys older, value-add apartment complexes, mostly Class B garden-style properties in the Sun Belt, renovates them, and runs them itself. Its in-house management arm, S2 Residential, runs the apartments. A separate unit, Fort Management, manages industrial property.

For lenders and owners, the key fact is that S2 is under heavy financial stress in 2026. Its first fund and its private REIT are being wound down with investor equity reported as lost. Several of its properties, including DFW properties, have gone to special servicing or been posted for foreclosure.

02What sets them apart

Against the industry average.

How S2 Capital compares with the other large DFW managers on each measure we track.

  • ▲Better than 93% of peers on rating change, last year (+0.80 vs +0.11 average)
other firms average this firm, by rank: top third middle bottomThis firmRank
DFW unitsneither better nor worse6,599avg 6,306#7 of 30
Class A shareneither better nor worse22%avg 51%#25 of 30
Google rating↑ higher is betterworsebetter3.7avg 3.9#21 of 30
Rating change, last year↑ higher is betterworsebetter+0.80avg +0.11#3 of 30
Unit growth a year↑ higher is betterworsebetter+5%avg +7%#9 of 16
Legal events, 3 years↓ lower is betterbetterworse1avg 2#11 of 30
Industry awards, 3 years↑ higher is betterworsebetter1avg 3#20 of 30

Compared with the 30 largest DFW managers. Rank 1 is the best where higher or lower is better, else the largest. DFW units use a log scale.

03Portfolio

What they run. In 5 metro areas.

Size, building class, age and location of the properties we can tie to this firm. Compare with the kind of asset you own.

Properties
51+
found so farpartial
Units
6,599+
plus 27 properties with no unit count yetpartial
Building area, sq ft
5.9M
county recordspartial
Median year built
1985
county recordspartial
Different owners
16
owners across the 24 of 51 properties with a county owner recordpartial
Tax credit properties
2
county class

Building class (public record class rating, 18 of 51 properties rated)partial

A · 4B · 8C · 6
Class AClass BClass CNot ratedSize = units

Units by ZIP code

75206914 · 5 prop.
75150734 · 3 prop.
75231535 · 3 prop.
75252532 · 1 prop.
75063415 · 4 prop.
75093389 · 1 prop.
75006382 · 2 prop.
75013374 · 1 prop.

Units by decade built

1960s280
1970s388
1980s3,986
1990s336
2010s1,609

Largest properties

PropertyAddressUnitsBuiltClassCheck it
RICHMOND19251 PRESTON RD, 752525321986County recordGoogleFirm siteWebsite
KENDRICK7324 SKILLMAN ST, 752314051984C+County recordGoogleFirm siteWebsite
ASH AT THE BRANCH4646 AMESBURY DR, 752064022016ACounty recordGoogleFirm site
THE DAYTON6000 OHIO DR, 750933891985County recordGoogleFirm siteWebsite
CARSON AT TWIN CREEKS659 JUNCTION DR, 750133742015County recordGoogleFirm siteWebsite
THE DURHAM3720 GUS THOMASSON RD, 751503441984B-County recordGoogleFirm siteWebsite
LANA (ECU)14332 MONTFORT DR, 752543361993B+County recordGoogleFirm siteWebsite
THE MONTE4909 HAVERWOOD LN, 752873261985County recordGoogleFirm siteWebsite

Our count from public property records, HUD and the firm's own site; a listing alone never counts.

S2 Residential manages apartments that S2 Capital owns. Its DFW holdings are mostly 1970s and 1980s garden-style complexes in Dallas, Richardson, Garland, Carrollton, Plano, Irving and nearby suburbs. S2 has also operated in Houston, Phoenix (Glendale), Nashville and Knoxville. The Richmond on Preston Road in Dallas, which our records link to S2, was posted for a September 2026 foreclosure. The portfolio is shrinking through sales and foreclosures, so building-level data may change quickly.

04Resident experience

How residents rate their buildings.

Resident ratings drive leasing and renewals. Look at the trend and at which problems are rising, not only the average.

Average Google rating
3.7
weighted by review count
Google reviews
9,898
across 26 properties

Properties by Google rating

4.5+0
4-4.56
3.5-410
3-3.59
under 31

Resident reviews over time

Our read of public resident feedback on 17 of its DFW properties, 2012-07 to 2026-09. Years with little feedback are left out, and earlier years rest on fewer properties. No resident comments are shown.

123452017: average rating 4.1, sentiment +0.46 (from -1 to +1)20172018: average rating 4, sentiment +0.41 (from -1 to +1)20182019: average rating 4.2, sentiment +0.83 (from -1 to +1)20192020: average rating 3.5, sentiment +0.31 (from -1 to +1)20202021: average rating 2.8, sentiment -0.21 (from -1 to +1)20212022: average rating 2.7, sentiment -0.09 (from -1 to +1)20222023: average rating 3.6, sentiment +0.23 (from -1 to +1)20232024: average rating 3.6, sentiment +0.26 (from -1 to +1)20242025: average rating 3.4, sentiment +0.22 (from -1 to +1)20252026: average rating 4.2, sentiment +0.57 (from -1 to +1)2026

━ average rating · ╌ sentiment · higher is better for both

What residents complain about lower is better

How often residents raise each problem, our assessment: before the last 12 months and in the last 12 months. Fewer is better. Shown only when enough residents raise it.

ProblemBeforeLast 12 monthsChange
Poor communication21%14%↓ 7 pts fewer
Maintenance delays17%10%↓ 7 pts fewer
Rude staff9%6%↓ 3 pts fewercould be chance
Pests9%5%↓ 4 pts fewercould be chance
Staff unresponsive8%6%↓ 2 pts fewercould be chance
Billing fees7%4%↓ 3 pts fewercould be chance

Other review sites, our read

BBBNegative

Not accredited; about 60 complaints closed in three years, and the file notes 51 complaints left without a business response[4][5]

Our assessment · Sep 2026View profile ↗
ApartmentRatingsMixed

Company page (not per property) covering 68 communities and about 470 resident reviews; maintenance and responsiveness complaints recur[6]

Our assessment · Sep 2026View profile ↗
YelpToo few reviews

No company page; DFW property pages (Sophia, Neo Midtown, Volara) hold 11 to 15 reviews each and are now marked closed[7][8][9]

Our assessment · Sep 2026View profile ↗

Our assessment of each site's record, not the site's own score, which we don't reproduce. Follow the link for the profile.

Employee review sites show mixed feedback overall. The property management arm, S2 Residential, rates noticeably lower than the corporate S2 Capital profile. This is our assessment; see the linked Glassdoor and Indeed profiles for the source data. S2 was an Inc. 5000 honoree in 2023.

05Risk and compliance

Lawsuits, settlements and regulators.

Newest first. These are what public records and news show; allegations are reported as allegations.

≈Matched by nameA record can concern an owner, an affiliate or a similar name. We label it when the source shows that.
§Unproven until decidedA lawsuit or complaint is an allegation unless a court or regulator decided it.
↗Check the sourceEach item links to the record it comes from. Read it before relying on it.
  • 2026-08 · foreclosureAbout an owner entityThe Richmond (19251 Preston Rd, Dallas) and Weston Medical Center (Houston) were posted for September foreclosure, and Capital One sued Everett alleging about $11M owed on personal guaranties.[29][30]
  • 2026-07 · investor lossAbout an owner entityS2 told investors its first value-add fund would be dissolved with no return of capital to limited partners.[20][19]
  • 2026-07 · foreclosureAbout an owner entityHathaway at Willow Bend in Plano, posted for foreclosure over an alleged default on a Benefit Street Partners loan, was sold before the auction.[25][26]
  • 2026-05 · loan distressAbout an owner entityLoans on multiple S2 properties in Texas, Arizona, Florida and North Carolina moved to special servicing, including some at the borrower's request.[18]
  • 2026-05 · investor lossAbout an owner entityS2's private REIT began winding down after a capital call fell short, and its feeder fund warned equity investors to expect a full loss.[18][30][23]
  • 2026-05 · foreclosureAbout an owner entityThe Republic apartments in Garland were posted for foreclosure over an alleged default on a $78.6M Benefit Street Partners loan.[23][24]
Show 3 earlier
  • 2025-06 · foreclosureAbout an owner entityA lender posted S2's Preslee apartments in Arlington for foreclosure over an alleged loan default; the property was sold in July 2025.[22][21]
  • 2024-09 · lawsuitParty unclearFounder Scott Everett sued an online critic for defamation in federal court; the court entered a default judgment for Everett in May 2025.[33][34]
  • 2024 · lawsuitA plaintiff sued S2 Capital Acquisitions LLC d/b/a S2 Residential in Dallas County's 68th District Court (DC-24-01105) alleging injuries on a managed premises; the allegations are unproven.[32]
Our summary

Risk is high and centered on debt. The main events:

  1. 2025: Preslee in Arlington was posted for foreclosure over an alleged loan default and was sold that July.
  2. May 2026: Multiple loans moved to special servicing. The private REIT began winding down. Its feeder fund warned equity investors of a full loss.
  3. May 2026: The Republic in Garland was posted for foreclosure over an alleged default on a Benefit Street Partners loan.
  4. July 2026: S2 said its first value-add fund would be dissolved with no return of capital. Hathaway at Willow Bend in Plano was sold ahead of a foreclosure auction.
  5. August 2026: The Richmond in Dallas and Weston Medical Center in Houston were posted for foreclosure. Capital One sued Everett, alleging he owes money on personal loan guaranties.

Reporting links part of the stress to floating-rate debt and to Texas ending, in May 2025, a property tax exemption route through housing finance corporations that S2 had used. A 2024 Dallas County suit alleges injury on an S2 Residential-managed property; those claims are unproven. Separately, Everett won a 2025 default judgment in a defamation suit against an online critic. No fair housing actions by HUD or DOJ, and no Texas WARN layoff notices, were found.

06Key personnel

Key personnel.

For an owner, the regional leaders in its own metro matter most, so leaders in DFW are listed first.

Scott Everett
Scott EverettDFWLinkedIn
Founder & CEO[11]
CEO · joined 2012 (14 yrs)
Before: Royal Ventures, LLC[76]
Marc Everett
Marc EverettDFWLinkedIn
Chief Operating Officer[11]
COO · joined 2014 (12 yrs)
Edgar Cabrera
Edgar CabreraDFWLinkedIn
Managing Director, Property Management, Residential[11]
Operations · joined 2015 (11 yrs)
Before: US Residential Group[78]
SB
Shelby BigbeeDFWLinkedIn
Vice President of Centralized Services, S2 Residential[43]
Operations
Before: CortlandAmerican Campus Communities[52]
TL
Trey LopezDFWLinkedIn
Vice President of Operations, S2 Residential[47]
Operations · joined 2023 (3 yrs)
Before: CortlandLane CompanyGables ResidentialBell PartnersPegasus Residential[47]
Steve Bailey
Steve BaileyDFWLinkedIn
Managing Director, Property Management & Leasing, Industrial[11]
Operations · joined 2025 (1 yrs)
Before: Fort Capital[11]
KD
Kathleen DenisonDFWLinkedIn
Vice President of Operations, S2 Residential[63]
Operations
Before: Harbor Group Management CompanyGreystar[80]
HM
Heather Mitchell LancasterDFWLinkedIn
Director of Operations, S2 Residential[61]
Regional · Dallas-Fort Worth · joined 2023 (3 yrs)
JP
Jarah PranjicDFWLinkedIn
Director of Operations, S2 Residential[62]
Regional · joined 2023 (3 yrs)
Before: Portico Property ManagementCapstone Real Estate Services[79]
Ryan Everett
Ryan EverettDFWLinkedIn
Managing Director, Head of Acquisitions, Residential[11]
Business development · joined 2018 (8 yrs)
Before: Transwestern[11]
Parker McCormack
Parker McCormackDFWLinkedIn
Chief Investment Officer, Industrial[11]
Business development · joined 2025 (1 yrs)
Before: JLL Capital MarketsErnst & Young[11]
Cole Stephens
Cole StephensDFW
Managing Director, Head of Asset Management, Residential[11]
Leadership · joined 2018 (8 yrs)
Megan Knauss
Megan KnaussDFW
Chief Financial Officer[11]
Leadership · joined 2015 (11 yrs)
Before: PwC[11]
Jared Everett
Jared EverettDFWLinkedIn
Managing Director, Portfolio Management, Residential[11]
Leadership · joined 2016 (10 yrs)
Jenna Rowley
Jenna RowleyDFWLinkedIn
Chief Compliance Officer & General Counsel[11]
Leadership · joined 2021 (5 yrs)
Before: Thompson & Knight LLPBaker Botts LLP[11]
Darci Crayton
Darci CraytonDFW
Chief People Officer[11]
Leadership · joined 2016 (10 yrs)
Chris Roach
Chris RoachDFWLinkedIn
President, Industrial[11]
Leadership · joined 2025 (1 yrs)
Before: BBG[75]
Brooks Teeter
Brooks TeeterDFWLinkedIn
Vice President, Asset Management, Residential[11][54]
Leadership · joined 2020 (6 yrs)
Before: KPMG[11]
Allison Egner
Allison EgnerDFWLinkedIn
Vice President, Investor Relations[11]
Leadership · joined 2025 (1 yrs)
Before: Hatteras FundsSilverback Asset ManagementStephens Inc.[11][77]
Liz Kisselburgh
Liz KisselburghDFWLinkedIn
Managing Director, Accounting, Industrial[11]
Leadership · joined 2025 (1 yrs)
Before: Fort Capital[11]
Hunter Nurdin
Hunter NurdinDFWLinkedIn
Managing Director, Portfolio Management, Industrial[11]
Leadership · joined 2025 (1 yrs)
Before: Fort Capital[11]

Average leadership tenure: 6 years. Highlighted past employers have their own page here. LinkedIn profiles are linked, not copied.

What employees say, our read

GlassdoorMixed

Two profiles, about 100 reviews: holding firm leans favourable; the management arm is weaker, citing training and support gaps[1][2]

Our assessment · Sep 2026View profile ↗
IndeedMixed

About 88 reviews on the S2 Residential profile; praise for culture and training, complaints about management and job security[3]

Our assessment · Sep 2026View profile ↗
About the leadership

Scott Everett is founder and CEO. Before S2 he ran Royal Ventures, a small multifamily brokerage and asset management firm he formed in 2008. Marc Everett has been COO since 2014. Edgar Cabrera leads residential property management; he joined S2 in 2015 after several years as a senior property manager at US Residential Group. Cole Stephens heads residential asset management and Ryan Everett, formerly of Transwestern, heads residential acquisitions; both joined in 2018 and were promoted to managing director in December 2024. Jared Everett, with S2 since 2016, runs residential portfolio management. Megan Knauss, a former PwC manager, is CFO. Jenna Rowley, formerly of Thompson & Knight and Baker Botts, has been chief compliance officer and general counsel since 2021. Darci Crayton, with S2 since 2016, is chief people officer. Several senior leaders are Everett family members.

Below the executive team, Trey Lopez joined S2 Residential as vice president of operations in 2023 after senior operations roles at Cortland and earlier work at Lane Company, Gables Residential, Bell Partners and Pegasus Residential. Shelby Bigbee, who per their LinkedIn profile previously worked at Cortland and American Campus Communities, leads centralized services at S2 Residential. Brooks Teeter, a former KPMG auditor who joined in 2020, is vice president of residential asset management. Allison Egner joined in April 2025 to run investor relations, after investor relations roles at Hatteras Funds, Silverback Asset Management and Gerber Taylor Management.

Field operations at S2 Residential are run by operations directors and vice presidents who oversee groups of communities. Per their own LinkedIn profiles, Kathleen Denison is a vice president of operations, and Heather Mitchell Lancaster (Dallas-Fort Worth) and Jarah Pranjic are directors of operations; Lancaster and Pranjic both joined in 2023. Per profile aggregators, Denison previously managed communities at Greystar and Harbor Group, and Pranjic held regional roles at Portico Property Management and Capstone Real Estate Services. S2 does not publish its regional leaders on its own site. In August 2026 it was hiring a Dallas-based director of property management.

On the industrial side, Chris Roach, formerly CEO of the valuation firm BBG, joined in 2025 as president of the industrial platform. Parker McCormack, formerly of JLL Capital Markets, is its chief investment officer. Steve Bailey runs industrial property management and leasing. Liz Kisselburgh leads industrial accounting and Hunter Nurdin leads industrial portfolio management. Bailey, Kisselburgh and Nurdin all came over from Fort Capital when S2 bought it in 2025.

07Performance and fees

What they report, and what they charge.

Private managers rarely publish results. Figures the firm reports about itself are marked "firm claim"; ask for audited numbers before you sign.

Occupancyreported
83%
The Jerome occupancy
The Jerome (Glendale, AZ) was 83% occupied at the end of 2025[18]
as of 2025-12
Rent growthreported
24%
Average rent decline
Rents down about 24% on average across the first value-add fund's portfolio, per the same letter as reported[19]
as of 2026-07
NOIreported
Several loans moved to special servicing in 2026 on properties whose net cash flow fell well short of underwriting[18]
as of 2026-05
Expense controlreported
16%
Average operating expense increase
Operating expenses up about 16% on average across the first value-add fund's portfolio, per the founder's July 2026 investor letter as reported[19]
as of 2026-07
CapExfirm claim
$497M
Capital improvement spending
COO bio cites $497M in capex improvements across 44,000 units since 2014[11]
as of 2026

No current figure: Collections · Retention and renewals · Turn times. Ask the firm for these before you sign.

Fees paid by owners

Property management fee (2026 continuation vehicle)base fee
3.5%
Property management fee
3.5% paid to the in-house manager[28][48]
Reported as a lender requirement; S2 said it would waive acquisition, construction-management and asset-management fees in this vehicle.
Case studies (2)
  • The Muse (formerly Tierra Linda) repositioning. S2 says it spent about $11,000 per unit renovating this 1969-built, 804-unit complex and raised rents by $288 a unit (about 42%) over a 43-month hold. Firm-reported.[44]
  • EliseAI maintenance tools at S2 Residential. A vendor case study reports that after S2 Residential adopted EliseAI's maintenance app and AI tools, median work order completion time fell about 40% and a large share of after-hours emergency calls were resolved without dispatch (Q1 2026 data). Vendor-reported.[43]
Our notes on performance and fees

Third-party reporting in 2026 shows operating results well below plan. Loans on several properties moved to special servicing after net cash flow fell short of underwriting. Reports cite rising taxes, insurance, utilities and vacancy. Everett's July 2026 investor letter, as reported, described falling rents and rising operating and interest costs across the first fund.

The firm's own figures on renovation spending and its published case study of a Dallas repositioning are self-reported and not independently confirmed. A 2026 vendor case study from EliseAI reports faster maintenance work order completion at S2 Residential after it adopted EliseAI's maintenance tools. No public information was found on S2 Residential's rent collections, resident retention or unit turn times.

S2 Residential manages S2's own properties rather than offering fee-based management to outside owners, so it publishes no management fee schedule. Reporting on S2's 2026 continuation vehicle says S2's in-house manager will collect a property management fee there, described as a lender requirement, while S2 waives its acquisition, construction-management and asset-management fees in that vehicle.

08Awards

Awards and recognition.

Industry rankings and awards, newest first. Many are based on surveys the firm enters or pays for, so weigh them below results and resident ratings.

2023Inc. 5000 honoree[38]
09Technology

Software and systems.

Matters for reporting to you, integration with your systems, and how leasing and rents are set.

Property management software
ResMan[13]
CRM and leasing
Knock (lead email routing at some communities, e.g. The Wynne in Doraville, GA and The Mark 2600 in Arlington, TX)[58][59][57]
Resident portal
ResMan resident portal (s2capital.myresman.com)[13]
BI and reporting
Torch (proprietary analytics platform)[10]
AI and automation
EliseAI Maintenance App, MaintenanceAI and VoiceAI (maintenance and after-hours calls)EliseAI resident portal and online applications at some communities (e.g. Zeke)[43][45]

Not publicly disclosed: Revenue management · API and integrations

Our notes on technology

S2 Residential communities use ResMan for property management and the resident portal, under an S2 Capital ResMan domain. Its 2026 job postings for property managers, assistant managers and leasing agents name ResMan as the system staff are expected to know. Some communities, such as Zeke, run the resident portal and online applications through EliseAI. An EliseAI chat assistant is embedded on nearly all S2 Residential community websites, and S2 also uses EliseAI's AI tools for maintenance requests and after-hours calls, according to a 2026 EliseAI case study. A few communities, including The Wynne near Atlanta and The Mark 2600 in Arlington, route leasing leads through Knock. Community websites run on the Swifty platform, most with Engrain interactive site maps.

S2 says it runs a proprietary analytics platform called Torch; no outside confirmation was found. In 2021 Everett said the firm's analytics were built on Domo. Hiring runs through Workday. No public information was found on the revenue management software S2 uses: its job postings and community sites name none, and S2 was not found among defendants named in the RealPage rent-pricing cases. No public API or published integration program for owners or partners was found.

10Growth

Momentum, year by year.

Growing firms win new contracts but can stretch staff; shrinking ones may be losing clients.

Signal: contracting[20][27][29][28]

Units the firm reported, by year[39][40][64]
2021202220232024202520262027+27%+0%22k2021: 22,000 units reported by the firm28k2025: 28,000 units reported by the firm28k2026: 28,000 units reported by the firmEVENTS2022-07 · acquisition: Bought a 14-property portfolio of 1979-1987 garden-style complexes in Dallas-Fort Worth and Houston.2022-09 · fund: Closed its first value-add multifamily fund above its initial target.2025-01 · acquisition: Took over as general partner and operator of a five-property distressed portfolio in Dallas, Nashville and Knoxville with rescue preferred equity.2025-07 · fund: Closed a second, $373M multifamily fund aimed at distressed assets.2025-08 · expansion: Acquired Fort Capital's industrial platform, adding industrial property management and leasing.2026-01 · disposition: Sold Brixton Apartments on North Dallas Parkway.2026-07 · disposition: Sold Hathaway at Willow Bend and The Ellington, both in Plano.2026-08 · fund: Began raising up to $130M for a continuation vehicle to move 26 properties out of its earlier fund and REIT, at high leverage.

Hover a point or an orange event dot for details. Unit counts are what the firm reported nationally.

Recent events

  • 2026-08 · fundBegan raising up to $130M for a continuation vehicle to move 26 properties out of its earlier fund and REIT, at high leverage.[28][27]
  • 2026-07 · dispositionSold Hathaway at Willow Bend and The Ellington, both in Plano.[27][26]
  • 2026-01 · dispositionSold Brixton Apartments on North Dallas Parkway.[27]
  • 2025-08 · expansionAcquired Fort Capital's industrial platform, adding industrial property management and leasing.[14]
  • 2025-07 · fundClosed a second, $373M multifamily fund aimed at distressed assets.[17]
  • 2025-01 · acquisitionTook over as general partner and operator of a five-property distressed portfolio in Dallas, Nashville and Knoxville with rescue preferred equity.[16]
Show 3 earlier
  • 2022-09 · fundClosed its first value-add multifamily fund above its initial target.[19]
  • 2022-07 · acquisitionBought a 14-property portfolio of 1979-1987 garden-style complexes in Dallas-Fort Worth and Houston.[15]
  • Undated · recapitalizationFounder Scott Everett said he was investing personal cash to pull 12 properties out of special servicing.[31]

S2 grew fast through the 2010s and early 2020s and was one of the most active buyers of DFW apartments. Firm figures show its owned portfolio growing between 2021 and 2025, and headcount rising over the same years. It closed a second fund in July 2025, added an industrial division in August 2025, and announced a development platform in May 2026.

Since 2025 the trend has reversed for the apartment business. The first fund and REIT are being wound down, properties are being sold or foreclosed, and in August 2026 S2 began raising a highly leveraged continuation vehicle to keep part of the portfolio. Everett has also said he is putting personal cash into pulling some properties out of special servicing. We rate the trend as contracting.

11Ownership

Who owns the firm, and why it matters.

A manager that also owns buildings, or answers to a fund, can have different priorities from yours.

OwnershipFounder-owned[10][11]
Parent companyNone
Business modelMainly runs buildings it owns[10][12]
Affordable housingSome properties were held through sale-leaseback structures with nonprofit housing finance corporations for property tax exemptions; Texas eliminated that exemption route in May 2025. The Kace in Grand Prairie is reported as largely low-income designated.[24][18]
Employee growthAbout 600 employees in October 2021 per the founder; the firm cites 750 in 2026, after adding Fort Capital's industrial team in 2025[39][10][40]

Not publicly disclosed: Sister companies

Ownership changes

  • 2025-08 · acquisitionS2 Capital agreed to acquire Fort Capital's industrial operating platform, forming an industrial division.[14]

S2 is privately held and controlled by its founder. It is an owner-operator: S2 Residential manages S2's own communities, not buildings for outside owners. S2 raises money from investors through funds, a private REIT and deal-level syndications, and uses S2 Residential as the operator. In 2025 it also took over as general partner and operator of a distressed portfolio owned by another sponsor. In August 2025 it bought Fort Capital's industrial platform.

12Sources

Where every fact comes from.

Each [n] above links here. Property numbers, ratings and the map come from our database; each property links to its county record, its own website and its Google page.

Show all 80 sources
  1. S2 Capital Reviews | Glassdoor glassdoor.com · seen 2026-09-29
  2. S2 Residential Reviews | Glassdoor glassdoor.com · seen 2026-09-29
  3. Working at S2 Residential: Reviews | Indeed.com indeed.com · seen 2026-09-29
  4. S2 Residential | BBB Business Profile bbb.org · seen 2026-09-29
  5. S2 Residential | BBB Complaints bbb.org · seen 2026-09-29
  6. S2 Residential | ApartmentRatings apartmentratings.com · seen 2026-09-29
  7. The Sophia Apartments by S2 Residential | Yelp yelp.com · seen 2026-09-29
  8. Neo Midtown Apartments by S2 Residential | Yelp yelp.com · seen 2026-09-29
  9. Volara Apartments - S2 Residential | Yelp yelp.com · seen 2026-09-29
  10. About Us - S2 Capital s2cp.com · seen 2026-09-28
  11. Leadership - S2 Capital s2cp.com · seen 2026-09-28
  12. S2 Residential lives2residential.com · seen 2026-09-28
  13. The Laney (S2 Residential community site) livethelaney.com · seen 2026-09-28
  14. S2 Capital enters definitive agreement to buy industrial platform Fort Capital s2cp.com · seen 2026-09-28
  15. S2 Capital Acquires Major Multifamily Portfolio in Dallas-Fort Worth and Houston prnewswire.com · seen 2026-09-28
  16. S2 Capital Acquires Portfolio of Five Multifamily Properties with 1,768 Units prnewswire.com · seen 2026-09-28
  17. S2 Capital closes $373M distressed apartment fund - Multifamily Dive multifamilydive.com · seen 2026-09-28
  18. S2 Capital sees multiple properties move to servicing - Multifamily Dive multifamilydive.com · seen 2026-09-28
  19. S2 Capital Dissolves $400M Multifamily Fund With No Returns - CRE Daily credaily.com · seen 2026-09-28
  20. S2 Capital Winds Down First Fund - The Real Deal therealdeal.com · seen 2026-09-28
  21. Timeline of S2 Capital's Financial Unraveling - The Real Deal therealdeal.com · seen 2026-09-28
  22. Scott Everett's S2 Capital Faces Apartment Foreclosure - The Real Deal therealdeal.com · seen 2026-09-28
  23. Scott Everett's S2 Capital faces $78M foreclosure amid REIT equity wipeout - The Real Deal therealdeal.com · seen 2026-09-28
  24. Garland's Giant Republic Apartments Heads For Courthouse Showdown - Hoodline hoodline.com · seen 2026-09-28
  25. S2 Capital offloads Plano apartment property flagged for foreclosure - The Real Deal therealdeal.com · seen 2026-09-28
  26. S2 Capital Offloads 229-Unit Plano Rental Community - Connect CRE connectcre.com · seen 2026-09-28
  27. Scott Everett's S2 Capital offloads 2 DFW apartments as it raises money for new fund - The Real Deal therealdeal.com · seen 2026-09-28
  28. Inside S2 Capital's Continuation Vehicle Offering - The Real Deal therealdeal.com · seen 2026-09-28
  29. Lenders seek $170M in S2 foreclosures on top of $11M from CEO Everett's pocket - The Real Deal therealdeal.com · seen 2026-09-28
  30. Texas Apartment Foreclosures Hit $778M in September 2026 - Hoodline hoodline.com · seen 2026-09-28
  31. S2 Capital founder opens his own wallet to reclaim 12 apartment properties - CoStar costar.com · seen 2026-09-28
  32. Corey Jackson vs. S2 Capital Acquisitions, LLC, et al. - Trellis trellis.law · seen 2026-09-28
  33. Everett v. Kostecki, N.D. Tex. 3:24-cv-02226 govinfo.gov · seen 2026-09-28
  34. S2 Capital's Scott Everett Sues Jakub Kostecki For Defamation - The Real Deal therealdeal.com · seen 2026-09-28
  35. S2 Residential Reviews - Glassdoor glassdoor.com · seen 2026-09-28
  36. S2 Capital Reviews - Glassdoor glassdoor.com · seen 2026-09-28
  37. Working at S2 Residential - Indeed indeed.com · seen 2026-09-28
  38. S2 Capital is a 2023 Inc. 5000 honoree inc.com · seen 2026-09-28
  39. When Raising Money Is Not the Problem: S2 Capital's Scott Everett on Current Multifamily Dynamics - WealthManagement.com wealthmanagement.com · seen 2026-09-28
  40. S2 Capital Acquires Industrial Firm With 11M SF Portfolio - Bisnow bisnow.com · seen 2026-09-28
  41. S2 Capital Announces Final Close of Its Multifamily Fund I at $400 Million prnewswire.com · seen 2026-09-28
  42. S2 Capital Launches Development Platform to Capitalize on Emerging Sunbelt Supply Gap prnewswire.com · seen 2026-09-28
  43. How S2 Residential Empowers Their Techs and Completes Work Orders Faster with EliseAI's Maintenance App - EliseAI eliseai.com · seen 2026-09-28
  44. Approach - S2 Capital s2cp.com · seen 2026-09-28
  45. Zeke Apartments (S2 Residential community site) liveatzeke.com · seen 2026-09-28
  46. The Kendrick (S2 Residential community site) liveatthekendrick.com · seen 2026-09-28
  47. S2 Capital Hires Trey Lopez as Vice President of Operations prnewswire.com · seen 2026-09-28
  48. S2 Capital Continuation Vehicle: A Debt-to-Equity Warning - Angel Investors Network angelinvestorsnetwork.com · seen 2026-09-28
  49. Scott Everett - LinkedIn linkedin.com · seen 2026-09-28
  50. Marc Everett - LinkedIn linkedin.com · seen 2026-09-28
  51. Edgar Cabrera - LinkedIn linkedin.com · seen 2026-09-28
  52. Shelby Bigbee - LinkedIn linkedin.com · seen 2026-09-28
  53. Trey Lopez - LinkedIn linkedin.com · seen 2026-09-28
  54. S2 Capital Promotes Five Professionals to Managing Director and Three to Vice President - S2 Capital s2cp.com · seen 2026-09-28
  55. S2 Residential job openings (Workday) s2cp.wd5.myworkdayjobs.com · seen 2026-09-28
  56. Property Manager, The Wynne - S2 Residential job posting s2cp.wd5.myworkdayjobs.com · seen 2026-09-28
  57. S2 Residential community locations search.lives2residential.com · seen 2026-09-28
  58. The Wynne (S2 Residential community site) liveatthewynne.com · seen 2026-09-28
  59. The Mark 2600 (S2 Residential community site) themark2600.com · seen 2026-09-28
  60. Jared Everett - LinkedIn linkedin.com · seen 2026-09-28
  61. Heather Mitchell Lancaster - LinkedIn linkedin.com · seen 2026-09-28
  62. Jarah Pranjic - LinkedIn linkedin.com · seen 2026-09-28
  63. Kathleen Denison - LinkedIn linkedin.com · seen 2026-09-28
  64. Firm homepage, archived 2026 web.archive.org · seen 2026-09-28
  65. Google reviews of the firm's DFW properties (our analysis) google.com · seen 2026-09-30
  66. Ryan Everett - S2 Capital | LinkedIn linkedin.com · seen 2026-09-29
  67. Jenna Rowley - General Counsel and Chief Compliance Officer | LinkedIn linkedin.com · seen 2026-09-29
  68. Parker McCormack - S2 Capital | LinkedIn linkedin.com · seen 2026-09-29
  69. Brooks Teeter, CPA - S2 Capital | LinkedIn linkedin.com · seen 2026-09-29
  70. Allison Shafer Egner - Vanderbilt University - Dallas | LinkedIn linkedin.com · seen 2026-09-29
  71. Stephen Bailey - Executive Vice President - Fort Capital | LinkedIn linkedin.com · seen 2026-09-29
  72. Hunter Nurdin - S2 Capital | LinkedIn linkedin.com · seen 2026-09-29
  73. Liz Kisselburgh - S2 Capital | LinkedIn linkedin.com · seen 2026-09-29
  74. Chris Roach, CCIM - Dallas-Fort Worth Metroplex | LinkedIn linkedin.com · seen 2026-09-29
  75. S2 Capital Acquires Fort Capital's Industrial Platform - CRE Daily credaily.com · seen 2026-09-29
  76. Scott Everett investment portfolio - PitchBook (seen via search snippet; direct fetch 403) pitchbook.com · seen 2026-09-29
  77. Leadership - S2 Capital s2cp.com · seen 2026-09-29
  78. Edgar Cabrera - Managing Director of Operations at S2 Residential - SignalHire (profile aggregator) signalhire.com · seen 2026-10-01
  79. Jarah Pranjic - S2 Residential - ZoomInfo (profile aggregator) zoominfo.com · seen 2026-10-01
  80. Kathleen Denison - S2 Residential - Datanyze (profile aggregator) datanyze.com · seen 2026-10-01