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Highlights
S2 launched its latest new fund by refinancing and modifying $1.2 billion in loans tied to 26 Sun Belt apartment properties.
With the deal, founder Scott Everett is bouncing back after a six-month period that forced him to dissolve funds, fight foreclosures, fend off a personal guaranty lawsuit and ultimately list his $45 million Preston Hollow mansion.
As a result of one of the modifications, Capital One is no longer pursuing litigation against Everett. The lender claimed Everett was on the hook personally for $11.5 million after guarantying an $85.2 loan backed by the Richmond Apartments in Dallas.