S2 Capital Lands 618-Unit Atlanta Rental Asset

S2 Capital acquired ‘The Landing at Pleasantdale’, a 618 garden-style apartment community. 72 buildings make up the gated community that’s on over 75 acres. Built in 1985, Pleasantdale is located at 3497 Meadowglenn Village Lane in Doraville, GA, a northeast Atlanta suburb.

S2’s Scott Everett further explains the deal, “Data suggests an inversion of the supply-demand imbalance, leading to significant positive absorption for Atlanta in conjunction with the first positive YoY occupancy gain in Q3 24 since Q1 22. Additionally, current effective rents sit $280 below comparable market properties, having witnessed a -12% drop in rents onsite YoY while surrounding comps have increased +1%, giving S2 conviction in their ability to execute their value-add business plan and deliver a superior living experience to tenants.”

S2 plans to renovate 90% of the units to compete with comparable renovated properties in the submarket.