Nitya Capital Acquires 6 Communities in Houston
The transaction marks the largest transaction in the company’s history.
By Anca Gagiuc
Houston—Privately held real estate investment firm Nitya Capital announced the acquisition of a six-property portfolio in the Houston area. Two assets are located in Baytown, three in the Champions area and one in Heights. The deal adds 1,462 units to the company’s portfolio, which now encompasses 7,500 units and $500 million worth of assets under management.
The properties included in this off-market deal are Woodside Village, Sedona Pointe, Gallery at Champions, Brisas del Mar, Briarwood and Marina Club. All properties will be managed by Nitya Capital’s fully-owned and operated property management company, Karya Property Management.
“The closing of this multi-property deal marks both a financial and institutional achievement for our firm, representing the tremendous growth we’ve experienced over the past few years,” Swapnil Agarwal, CEO of Nitya Capital and Karya Property Management, said in prepared remarks. “A deal of this size is unprecedented within our industry without the financial support of a large-scale institutional investor.”
Image courtesy of Yardi Matrix