Middle East News 247

Nitya Capital Closes Sale of Four Multifamily Properties in Texas

HOUSTON — Nitya Capital, an international real estate investment firm headquartered in Houston, today announced the sale of four multifamily properties across the Dallas, Austin and San Antonio regions. These most recent deals total 73 property exits for Nitya since the company was founded in July 2013.

Since its inception, Nitya has closed more than $8B in transactions including $4.2B in acquisitions, $2.4B in exits and $1.7B in recapitalizations. These four recent sales bring Nitya’s total exits to 73 of its 129 total properties purchased in its 10-year lifespan.

“These recent deals embody the success our company and investment partners have achieved since I first started this company,” said Swapnil Agarwal, CEO and Founder of Nitya Capital. “I am extremely proud of our team for the longstanding success we’ve had as we near our 10-year anniversary. The U.S. real estate sector has seen a slowdown since late last year, but our team continues to execute at a high level and identify the bright spots in multifamily investing. Once the sector rebounds completely we will be well positioned to pursue more opportunistic deals in the Sunbelt states and other high growth areas.”

All four sold properties – listed below – were acquired by Nitya within the last four years. During that timeframe, the firm added value to the assets, which included interior and exterior upgrades, pool renovations, new kitchen renovations, new leasing office, new community amenities and much more.

Candlelight Park Apartments located in Duncanville, Texas (a suburb southwest of Dallas) has 128 units and was purchased by Lone Star Capital in March 2023
Terrain at Medical Center located in San Antonio’s South Texas Medical Center (northwest of the city) has 224 units and was purchased by Nord Group in March 2023
Latitude Apartments, also located in San Antonio’s South Texas Medical Center, has 268 units and was purchased by Nord Group in March 2023
Park at Crestview, located in north Austin, has 248 units and was purchased by Nord Group in April 2023

These exits follow similar sales of several Texas properties conducted by Nitya last year, when the firm predicted a slowdown in the real estate market. Following last year’s deals, the firm acquired diverse, newer multifamily properties in high growth markets – i.e., Florida, Tennessee and Indiana – while costs in those regions were still opportunistic.

“Our activity in 2022 helped us create a more lucrative portfolio for our firm and partners in 2023,” continued Agarwal. “We are sitting on a very strong set of multifamily properties. As we continue adding value to our portfolio, we’ll continue to monitor market conditions for the right time to make moves.”

Nitya will be formally announcing its 10-year anniversary celebration in July as it looks back at its growth, successes and the teams that helped it scale up to the international firm that it is today. Nitya looks to continue its successes well into the next decade.

Related posts

OAG’s Flight Info API Now Available in the Microsoft Azure Marketplace


Women and wealth: It’s time for a customised approach

Editor - CL

Thousands of Israelis book flights to UAE

Editor - CL