Lofts at Terrain (formerly Terrain Apartments Pittsburgh) â SHIR Capital has completed its conversion of the former Extended Stay America hotel in Pittsburgh, PA into a fully renovated multifamily community.
The 152-unit property was acquired in December 2015 for $6.3MM, with total capital deployed of approximately $13.7MM. After conversion and lease-up, the property was sold, delivering strong risk-adjusted returns to investors.
The project was one of SHIR Capital's earliest hotel-to-multifamily conversions, helping establish the firm's niche focus in this asset type.
For more information about our Project Portfolio and becoming an investor in upcoming projects, please contact us at: info@shircapital.com