In May 2021, Principals of SHIR Capital & Valcap closed the sale of Nextloft Apartments in Bluffton, SC for $18.15 Million, yielding a 50%+ IRR.

Principals of SHIR acquired a 148-unit extended stay hotel complex in January of 2018 for $7.25MM. Starting with a fully vacant hotel, SHIR’s construction affiliate Ava’s quickly renovated all interiors and began move-ins in only 6 months. SHIR’s property management affiliate Nexus leased the property to stabilization in 12 months and maintained occupancy and collections throughout 2020’s pandemic with physical occupancy above 97%.

After purchase, a full value-add renovation was undertaken improving and adding to the amenities, along with strategic cosmetic exterior upgrades, including: redesign of pool, new leasing office, new landscaping, barbecue area, exterior lighting, re-branding & signage, and parking lot upgrades.

Interiors for all of the residential units were upgraded including: new two-tone paint throughout, new vinyl flooring throughout, fixture and appliance upgrades, new cabinets and granite countertops, new blinds, and new plumbing and electrical fixtures.

For more information about our Project Portfolio and becoming an investor in upcoming projects, please contact us at: info@shircapital.com