TPEG partnered with S2 Capital for the 17th time to acquire and renovate two multifamily communities in Jacksonville, FL. Boat House Apartments and Shore House Apartments, both built in 1973, are “sister properties” that are adjacent to one another. Boat House has 487 units and Shore House has 616 units.
The investment is an extension of Trinity and S2’s push into the diverse and rapidly-expanding Florida market. This transaction, which marked Trinity’s fourth recapitalization of an S2 project, closed on January 18, 2019. TPEG provided approximately $24.42M of preferred equity and mezzanine capital.