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Micro Living

Our mission is to redefine long-term micro living across the US.

Pace Living, a subsidiary of NHD Capital, specializes in transforming underutilized hotels into studio apartment buildings in emerging markets.

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Investment Principles

At NHD Capital, we are dedicated to ensuring a solid investment foundation. We conduct a thorough underwriting process, from in-depth reviews of property performance to current market conditions.

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HTA - Hotels to Apartments

Focusing on franchise hotels, independent hotels, and extended-stay portfolios, we target supply-constrained submarkets with low vacancy rates, where there is a high demand for studio apartments by market tenants, government agencies, and non-profit organizations.

Investors First

Our equity investors are the key to our success. We pride ourselves on having repeat investments from our strategic partners. We also give our investors a preferred return — in the event of cash events, such as a refinance or a sale, our investors typically achieve double-digit returns.

Exclusive Opportunities

The advantage of exclusivity: Our close relationships with city and county officials, bankers, property managers, contractors, engineers, sellers, brokers, and other real estate professionals mean that we get a first look at off-market deals rather than relying on public listings.

High-Yield Assets

Pace Living’s unique acquisition method leads to special opportunities within the hospitality industry. By performing all the necessary zoning and change-of-use modifications required by the cities/counties and applying our proprietary Pace Living business model, we create a higher valuation post-stabilization based on the multifamily market cap rate in each area by placing long-term tenants.

Asset Highlights

Pace Village

Formerly a WoodSpring Suites, this property containing 119 units was built in 2005, and was an immediate candidate for our hotel-to-apartments holding portfolio. The property was well maintained, and the units came with kitchenettes and furniture. The transition into a multifamily asset was smooth and quick, and we achieved 100% occupancy within eight months.

Myrtle Beach I SC

Pace Landing

This property of 130 units on seven floors was offered to us as a vacant hotel. Located in the emerging market of Charleston MSA, we were excited to implement our hotel-to-apartments conversion system, and the rental rate exceeded the pro-forma projections by 20%.

 

Charleston | SC

Pace Leaf

Expanding the Pace Living micro-unit brand by creating our own affordable ground-up product, this project consists of one- and two-bedroom apartments that are a mile away from Coastal Carolina University, and it will be completed by the Summer of 2024.

 

 

Conway | SC