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The Hedge Phase I (Austin Suite)

Multifamily Value Add - Hotel Conversion

INVESTMENT PROJECT INTRO

Austin Suites Hotel is a 217-room hotel that is a prime candidate for an apartment conversion in one the strongest apartment markets in the nation. Built in 1981 on 3 acres of land, Austin Suites is located directly off the Interstate 35 frontage road, with excellent visibility and an extremely high traffic count. SHIR Capital is purchasing the Property at $45k/unit, 50% less than comparable properties and will have invested a total of $84k/unit after a full interior & exterior renovation. The business plan is to quickly renovate within the first year as no long-term leases will prevent access to units. Upgrade the exteriors with attractive colors & façade enhancements that coincide with a full re-brand into a true community.  Unit Interiors will be upgraded by replacing the interior cabinets, lighting, plumbing fixtures and flooring for a high-end finish offering.  The Property presents investors with a rarely found, major value add opportunity to convert an existing hotel to a multifamily community.

DETAILS ABOUT PROJECT

  • Investment Type: Private Equity
  • Total Project Size: $19,000,000
  • Address: 8300 N Interstate Hwy 35, Austin, TX 78753
  • PROPERTY TYPE: Multifamily
  • INVESTMENT PROFILE:
  • INVESTMENT CATEGORY: Private Equity
  • TARGETED INVESTMENT PERIOD: 3 years
  • MINIMUM INVESTMENT: Contact us for more info

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The Hedge Phase I (Austin Suite)

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