S2 Capital is a Dallas-based real estate investment manager founded in 2012 by Scott Everett. The firm operates a vertically integrated platform encompassing acquisitions, development, capital formation, construction, asset management, and property management across residential and industrial assets. S2 specializes in value-add and opportunistic strategies targeting high-growth markets in the Sunbelt and beyond. Since inception, the company has transacted over $13 billion in total capitalization and acquired more than 51,000 multifamily units across 17 markets nationwide. The firm currently manages 28,000+ residential units and 11 million square feet of industrial space, representing $5.3 billion in property under management and $1.7 billion in equity under management. S2's investment approach is driven by Torch, a proprietary technology platform and analytics engine that analyzes macroeconomic indicators, supply dynamics, and property-level operations to identify undervalued assets priced below replacement cost. The firm targets markets with above-national-average population, job, wage, and home value growth, including Texas, Florida, Arizona, Colorado, Georgia, Illinois, and North Carolina. In August 2025, S2 expanded into industrial real estate through the acquisition of Fort Capital, an 11-million-square-foot industrial platform founded in 2010 by Chris Powers, with Chris Roach appointed as president of the new industrial division. In December 2025, S2 formed a programmatic joint venture with Washington D.C.-based Iron Point Partners to scale infill shallow-bay industrial acquisitions across the Sunbelt. Recent multifamily activity includes the January 2025 acquisition of a distressed five-property portfolio totaling 1,768 units in Dallas and Tennessee for $60 million in rescue capital, and the December 2025 purchase of the 344-unit Ovaltine Apartments in Villa Park, Illinois, marking the firm's first investment in the Chicago market.