— Nitya Capital is proud to announce the acquisition of six multifamily assets in Houston and Austin markets. Along with it’s equity partner, AllianceBernstein, Nitya Capital was able to purchase three properties in the Spring Branch (Houston) submarket (Kempwood Hollow, Kempwood Place & Spring Shadows) for a price of $97MM. The 1,103 units are planned to be rebranded collectively into 3Corners (East, West, North).
Rounding out the final three assets acquired, Nitya Capital was able to purchase from Hamilton Zanze, Chesapeake Apartments, Falls on Bull Creek and Northstar Apartments for $75.5MM in the Northwest Austin submarket. All three properties combine in total of 668 units with institutional equity partners, iintoo & Silverpeak respectively.
Swapnil Agarwal, Managing Principal of Nitya Capital, had this to say, “We are excited to continue our growth in Houston and expanding in the Austin Market! Looking back, to our one property in Dallas, to now closing on our forty-ninth just four years later shows a true testament to our hardworking and diligent team.”
All properties mentioned will be managed by Karya Property Management.
Since inception, Nitya Capital has acquired over 14,500 multifamily units and 200k+ sqft of commercial office throughout Texas and currently has ~$1.5BN+ of assets under management. Headquartered in Houston, the firm’s leadership has decades of experience in global real estate investing and multi-sector investing through business cycles including recessionary environments.
Release ID: 395299