DALLAS, TX – S2 Capital announced it has bought Residences at Preston Park, a 266-unit multifamily community in Plano, Texas. S2, a national value-add multifamily investor with more than $9 billion in transaction volume, is making this investment from its fund, S2 Multifamily Value-Add Fund 1. Terms of the transaction were not told.
Residences at Preston Park is a three-tale garden/townhomes style apartment built in 1995, set on approximately 15 acres, with an average unit size of 1,114 square feet. S2 Capital is poised to elevate the property’s renter profile via hands-on residential management, asset management, and construction management. The proposed interior and exterior renovation plans anticipate spending just over $4 million to make select premium renovations.
Located at 4701 Preston Park Boulevard, the property provides residents access to the highly ranked Plano Independent School District and is convenient to major employment nodes such as Legacy, Frisco, Uptown/Downtown Dallas, Las Colinas, DFW Airport, and the Platinum Corridor. In 2021, the Plano submarket saw nearly 98% average occupancy and 21% annual rent growth, driven by a growing population attracted by job opportunities and the area’s robust economic recovery.
“From the start of our discussion on Residences at Preston Park, we have been impressed by the property’s significant value-add opportunity,” said Ryan Everett, VP of Acquisitions at S2. “We believe our investment will benefit both the local residents and our investors. We are also bullish on West Plano’s apartment market, which is driven by steady occupancy rates and record-breaking demand for the whole Dallas-Fort Worth region.”

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BOSTON, MA – Taurus Investment Holdings, a global private equity real estate firm operating for over 45 years with experience in multifamily, office, logistics, mixed-use and renewable energy sectors, and Kayne Anderson Real Estate, the real estate private equity arm of Kayne Anderson Capital Advisors, L.P., announced the formation of a joint venture to buy Halstead Framingham, a 1974 vintage, 1,020-unit apartment community located in Framingham, Massachusetts. Following the transaction, the property will be renamed The Green at 9 & 90.
The joint venture plans to commit significant capital to transition The Green to a low-carbon, energy-efficient multifamily community. In addition to the sustainability-focused retrofit, the joint venture plans to implement a range of tenant-driven social activations such as rent reporting to help tenants build credit through on-time rent payments and prioritization of partnering with diverse-owned businesses vendors.
Both Taurus and KA Real Estate maintain a successful track record and forward-thinking approach to real estate and are committed to prioritizing and incorporating environmental, social and governance (“ESG”) standards into their businesses. Taurus s energy-focused retrofit subsidiary, RENU Communities, will implement a tailored program to reduce greenhouse gas emissions across the entire property by 50% while significantly boosting energy efficiency by upgrading the property s HVAC systems, adding rooftop solar PV and a property-wide energy management system. KA Real Estate will invest in The Green through its KA Multifamily Impact strategy, which is an extension of both the firm’s leading ESG initiatives and strategic multifamily investments.
This is an exciting opportunity to partner with a like-minded team and leverage our expertise in investing, enhancing and operating high-quality multifamily properties, said David Selznick, Chief Investment Officer, KA Real Estate. ESG is a guiding principle of how we operate at Kayne Anderson, and this partnership builds on our commitment to invest in assets that prioritize increasing sustainability, rent attainability and positive social impact in local communities.
Taurus has a longstanding commitment to making environmentally conscious properties. As the demand for building decarbonization continues to rise, The Green is an brilliant fit for RENU s retrofit program. We are thrilled to partner with KA Real Estate to enhance the property s energy profile and social impact potential, said Peter A. Merrigan, CEO of Taurus Investment Holdings. We are thankful for all our partners support and look forward to improving our residents quality of life, while also maximizing value for our investors.
RENU Communities works to link traditional real estate investment with the growing desire for electrification and decarbonization. RENU provides turnkey, energy-efficient retrofits of existing real estate assets with a focus on renewable energy and reducing carbon footprints with the additional goal of generating Net Operating Income (NOI) improvement and making value for investors.
Given that the electric provider for The Green and State of Massachusetts have set high standards for meeting climate change goals and are offering a variety of financial incentives, we believe The Green has numerous opportunities for water and energy upgrades as well as fantastic opportunities for renewable energy onsite, said Christopher Gray, PhD., Chief Technology Officer of RENU Communities.
The Green, currently 98% occupied, is ideally situated in the heart of Boston s Metro West office and lab market, with over 700,000 suburban job and employers that include TJX, Raytheon, Bose, Staples and MathWorks, among others. Tenants benefit from an extensive, recently updated amenity package that includes an expansive fitness center with simulation surfing options, resident lounge with numerous shared workspaces, pool, pickleball court and multiple grilling areas.
We are delighted to see KA Real Estate and Taurus partner on this iconic asset, said Yan Ling, Managing Director of Evercore Real Estate Capital Advisory. Their investment in environmental and social improvements will elevate the property to a new era and bring lasting benefits to the residents, local community and climate.

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AUSTIN, TX – Palladius Capital Management, a vertically-integrated real estate investment manager focused on pursuing multifamily, student housing, hospitality and select thematic investment strategies, announced the acquisition of The Heights, a 672-bed student housing property located in the Austin, TX suburb of San Marcos.
The acquisition was made on behalf of Palladius Real Estate Fund I ( PREF I ), a private real estate investment fund focused on producing attractive risk-adjusted returns through the acquisition, management and disposition of equity interests in multifamily and student housing assets across the country.
The Heights, located thirty minutes away from downtown Austin and approximate to the Texas State University campus, enjoys strong leasing volume from the 38,000-student population. As part of its value creation strategy, Palladius plans to fully renovate the property s 240 units. It will also re-amenitize common spaces, including the clubhouse and pool, FF&E and gym equipment and enhance the building s exteriors.
As increasing demand for student housing narrows cap rates, Palladius remains especially committed to our tactically contrarian approach to investing, which enables us to identify opportunities others overlook, commented Nitin Chexal, CEO of Palladius. We believe the Heights was bought at an attractive basis and that this transaction will showcase our ability to recognize mispriced risk. We look forward to implementing our capital improvement plot to maximize the value of this well-located asset.
The Heights represents the most recent acquisition made by the Palladius team along the I-35 corridor. The firm s hands-on approach to asset and property-level management are critical elements of its risk control and value creation strategies and can be credited with contributing to its historic track record of delivering strong risk adjusted returns for its partners and investors.

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