Nitya Capital announces portfolio sale of five Houston multifamily units

The national real estate firm adds to its exits in the sunbelt

Nitya's Swapnil Agarwal (Nitya Capital, iStock)
Nitya's Swapnil Agarwal (Nitya Capital, iStock)

Real estate investment firm Nitya Capital sold five multifamily properties consisting of more than 1,500 units in its home market of Houston, according to a press release.

The privately-owned firm, headquartered in Houston, sold the properties across several noteworthy locations in the Houston area for a total of $150 million. They were purchased by a California-based real estate investor, whose name was not disclosed.

Nitya Capital has managed to increase its national footprint with several deals in the Sun Belt lately, according to the release. The firm continues to be a leading investment player in the Houston multifamily market.

“We are fortunate to have a prosperous outcome and exit that we were able to navigate during an ownership period of great adversity,” said Swapnil Agarwal, CEO, and Founder of Nitya Capital.

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“Specifically, we endured the pandemic, severe crude oil volatility and declines, winter storm damage, and, more recently, global issues including inflation, rate increases, and meaningful stock market declines,” Agarwal continued. “Despite these obstacles, through our ability to quickly execute transactions and act ahead on both a management and transactional level, we were able to obtain great results for our investors.”

In this portfolio exit, Nitya Capital was partnered with an established multinational family office and a New York-based real estate firm. The latest closing of this Houston portfolio marks a watershed development for the company, the release says, particularly as it looks to broaden its horizons across the country with new progress throughout various multifamily sectors.

The sale included the following properties:

• Buena Vista Apartments: 266 units. Located at 2402 Bammelwood Drive, Houston, TX
• Casa del Mar Apartments: 254 units. Located at 2431 FM 1960 Road, Houston, TX
• Sedona Pointe Apartments: 352 units. Located at 311 Highland Cross Drive, Houston, TX
• The Diamond Hill Apartments: 304 units. Located at 9407 Westheimer Road, Houston, TX
• The Providence at Memorial: 326 units. Located at 1370 Afton Street, Houston, TX

Nitya Capital said it takes a disciplined approach across all avenues pre and post-acquisition with a team of dedicated professionals who work thoroughly to monitor key performance indicators and optimize asset performance, engaging in in-depth market research and data analysis.

Nitya recently announced a breakthrough pursuit into the world of student housing, along with the successful exits of other Houston-based properties including Bayou Park Apartments, Quail Creek Apartments, and Quail Creek II Apartments. Since its inception, Nitya has successfully exited over $2.5 billion in assets across the nation with 25%+ net returns to investors.