August 29, 2025
Officials discuss advantages and challenges of such a project
An Austin development team is helping tackle the housing crisis by converting hotels into apartment complexes. Shir Capital and Pfluger Architects have completed a number of hotel-to-apartment conversions in Austin, Houston and Colorado in recent years, and they’ve now converted a North Austin Quality Inn into an apartment complex they’re calling the Veer Apartments.
May 1, 2024
Commercial Observer assembled several notable names in Dallas for their takes on development, lending and leasing
It’s not a typical cycle. That much was agreed upon at Commercial Observer’s real estate investment forum on April 18 at the Santander Tower in Downtown Dallas. SHIR Capital’s Elan Gordon participated in the affordable housing panel.
February 20, 2024
Hotel-to-resi accounts for nearly 6 in 10 conversions in Houston. Coverage of the growing hotel-to-multifamily conversion trend in Houston, featuring Shir Capital’s Teak Living project as a leading example in the market.
June 1, 2023
An exploration of Houston’s growing adaptive reuse movement, featuring insights from developers and brokers on the challenges and opportunities of converting existing structures for new uses.
May 19, 2023
SHIR Capital’s ALTA Living project in Colorado Springs earned CoStar’s 2023 Impact Award for best redevelopment. The former Hotel Elegante was converted into 501 affordable housing units.
May 26, 2021
Principals of SHIR Capital & Valcap closed the sale of Nextloft Apartments in Bluffton, SC for $18.15 Million, yielding a 50%+ IRR. The 148-unit extended stay hotel conversion was acquired in January 2018 for $7.25MM.
December 28, 2020
Wall Street Journal
National coverage of how COVID-19 accelerated hotel-to-apartment conversions across the country, featuring SHIR Capital’s Elan Gordon and the company’s pioneering approach.
October 26, 2020
Wall Street Journal
Examination of how Wall Street-backed transitional loans reshaped affordable housing markets, noting the contrast between predatory gentrification plays and SHIR Capital’s model of delivering new affordable supply.
September 8, 2020
Austin Business Journal
As the pandemic ravages the hospitality industry, SHIR Capital is shifting its focus to buying hotels for conversion into affordable micro-unit apartments along Austin’s I-35 corridor.
July 24, 2020
SHIR Capital completes initial renovations to The Venue at 625 Stanwix St in downtown Pittsburgh, PA, a multifamily conversion featuring comprehensive interior and exterior upgrades.
August 2, 2019
In July 2019, Principals of SHIR Capital announced the sale of Nest San Marcos apartments in San Marcos, Texas for $8.5 million, yielding a 26% IRR.
November 27, 2018
Pittsburgh Planning Commission members heard proposals for another 134 units slated for the Golden Triangle, including SHIR Capital’s conversion of the former Quality Suites Hotel at 625 Stanwix Street.
October 12, 2018
Jason Cohen, Head of Operations at Nexus Signature Communities, spoke at the 2018 Texas Multifamily Summit in Austin, TX, covering topics geared toward multifamily real estate professionals.
July 24, 2018
SHIR Capital has completed its conversion of the former Extended Stay America hotel in Pittsburgh, PA into a fully renovated 152-unit multifamily community — and has since sold the property.
July 17, 2018
SHIR Capital and The ValCap Group have partnered on the acquisition of two apartment communities in Austin, Texas, expanding SHIR Capital’s value-add multifamily portfolio in Texas.
June 11, 2018
In April 2018, Principals of SHIR Capital announced the sale of Terrain apartments in Pittsburgh, Pennsylvania for $13.7 million, yielding a 41.7% IRR to investors.
September 6, 2017
In August 2017, Principals of SHIR Capital announced the sale of Curve at River Road Apartments in San Marcos, Texas for $10.7 million, yielding a 42% IRR to investors.
September 6, 2017
In July 2017, Principals of SHIR Capital announced the sale of Nest apartments in North Central San Antonio, Texas for $9.6 million, yielding a 31% IRR to investors.
September 1, 2016
Urban Land Institute Austin
Austin-based SHIR Capital won the support of the judges at the Urban Land Institute Austin chapter’s “Shark Tank” themed competition, highlighting the firm’s growing reputation in value-add multifamily.
September 1, 2016
Pittsburgh Post-Gazette
The Quality Suites Hotel in Green Tree is being converted into apartments, representing one of the early hotel-to-multifamily conversion projects in the Pittsburgh metropolitan area by principals of SHIR Capital.
