Terrain Apartments SOLD for $13.7 Million

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 our investors. Principals of SHIR acquired this 153-unit apartment complex in the December of 2015 for $6.1 million. After purchase, extensive exterior and interior renovation of the entire complex was performed and included:

  • New fitness center, leasing office and business center
  • New landscaping and Pool area
  • Newly installed dog park
  • New Paint
  • Resurfaced cabinets and countertops
  • Upgrades to fixtures, appliances, and bathroom plumbing
  • LED Lighting and other safety improvements for residents

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