S2 Capital Launches Industrial JV With Iron Point Partners

Dallas-based S2 Capital has launched a programmatic joint venture with Iron Point Partners, providing new institutional equity to accelerate S2’s acquisition strategy focused on value-add, shallow-bay infill industrial assets in high-growth U.S. markets.

The partnership has already closed its first transaction, which included two multi-tenant business parks in North Fort Worth totaling 184,313 square feet, underscoring the firm’s growing industrial footprint in North Texas. A second closing is scheduled for January 2026 and is expected to bring the venture’s total acquisitions to approximately $35 million in asset value and more than 325,000 square feet.

Under the joint venture, Iron Point will serve as the limited partner, supplying capital to support S2’s targeted acquisition strategy. The venture will pursue multi-tenant, shallow-bay industrial properties in supply-constrained infill locations with strong demand drivers and repositioning potential, primarily across the Sun Belt.

“This programmatic structure provides the flexible capital needed to capture these opportunities,” said Chris Roach, president of S2 Capital’s industrial division, noting that Iron Point’s institutional backing aligns with S2’s infill, value-add approach.

Parker McCormack, chief investment officer of S2’s industrial arm, said shallow-bay infill industrial remains one of the most attractive risk-adjusted opportunities in the current market, adding that the partnership is already positioned for continued growth.

The joint venture builds on S2’s expanding industrial platform, which now includes approximately 11 million square feet of industrial real estate managed by vertically integrated asset and property management teams. That platform was significantly strengthened earlier this year with S2’s acquisition of Fort Capital, a Fort Worth-based industrial real estate firm.

In addition to continued expansion throughout Texas and Florida, the S2-Iron Point venture plans to enter Atlanta and other Southeastern markets as part of its 2026 growth initiatives.