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. Principals of SHIR acquired the 104-unit apartment complex in the Fall of 2016 for $5MM, assuming the existing debt and adding further Seller Financing, minimizing its investment.

After purchase, a full value-add renovation was undertaken improving and adding to the amenities, along with strategic cosmetic exterior upgrades, including new paint, cedar railing and fencing and a basketball and soccer sports court.

Interiors for all of the residential units were upgraded including new flooring, paint, fixtures, and appliances.

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