S2 Capital Acquires 266-Unit Residences at Preston Park Apartments in Plano

PLANO, TEXAS — Locally based investment firm S2 Capital has acquired Residences at Preston Park, a 266-unit apartment community in the northern Dallas suburb of Plano. Built on 15 acres in 1995, the garden-style property features one- and two-bedroom units with an average size of 1,114 square feet. Brian O’Boyle of Newmark represented the undisclosed seller in the transaction. Henry Stimler, Bill Weber and Ari Schwartzbard, also with Newmark, arranged acquisition financing on behalf of S2 Capital, which plans to implement a value-add program.