Real estate investment firm reaches 9,021 units and $650 million assets under management
Nitya Capital, a privately held real estate investment firm today announced the acquisition of a vintage Class A property in Houston’s Westchase District. This property added 510 units to the company’s rapidly expanding portfolio, which now includes a total of 9,021 units and $650 million assets under management.
The Class A multifamily property being acquired is City West. The community features a swimming pool, clubhouse, business center, picnic area, volleyball court, fitness center and perimeter fencing with controlled access gates.
"The acquisition of this property provides us with an opportunity to expand into an institutional-owned quality Class A multifamily property at an attractive valuation," said Swapnil Agarwal, CEO of Nitya Capital and Karya Property Management. “We are pleased to include City West in our continuously growing portfolio.”
The Westchase District is part of a highly educated area in Houston adjacent to the Energy Corridor with 42 percent of West Houstonians having a college degree, compared to 40 percent nationally and 28 percent in Houston. Median annual incomes in the Westchase District of almost $90,000 are over 25 percent greater than the metro average.
City West will be managed by Nitya Capital’s fully-owned and operated property management company, Karya Property Management.
About Nitya Capital:
Nitya Capital is a privately held real estate investment firm that focuses on the acquisition and management of opportunistic and value-add multifamily properties. Since inception, Nitya Capital has acquired over 9,021 units throughout Texas and currently has $650 million in assets under management. The firm’s leadership has decades of experience in global real estate investing and multi-sector investing through business cycles including recessionary environments. Nitya Capital has a targeted investment thesis and a proven track record of realized returns and strong performance as evidenced by significant revenue and NOI growth across its portfolio. For more information about Nitya Capital, visit www.nityacapital.com.
