Nitya Capital Sells 3 Texas Apartments

HOUSTON – (Realty News Report) – Nitya Capital, a Houston-based firm led by high-profile investor Swapnil Agarwal, has sold three Texas apartment complexes totaling 673 units.

Earlier this year, Nitya Capital said it intends to sell some 40 percent of its properties as it deals with today’s higher interest rate environment.

The three projects were acquired by Disrupt Equity, a Houston-based multifamily investment firm led by Feras Moussa and Ben Suttles.  Disrupt Equity, which focuses on Texas, Georgia and Florida, has a portfolio with more than 5,000 units.

The three projects are:

Stonecreek, located at 20000 Saums Road in Katy, 208 units with an average size of 830 SF.

Waterstone Place, located at 516 Stafford Springs Place in Stafford, comprises 168 units, each averaging 1,030 SF.

Treehouse, located at 2501 Wickersham Lane in Austin, spans 12.46 acres and encompasses 297 units. The property is  situated in the East Riverside Corridor

Newmark Vice Chairman Zach Springer, Senior Managing Director Jim Young and Director Carter Mizell represented Nitya Capital, in the sale.

“This portfolio provided investors the opportunity to acquire a sizeable footprint in two major markets, with outstanding upside potential that was attractive to both private and institutional buyers,” said Young. “The transaction was completed via a CMBS loan assumption with loan terms superior to current market offerings. The assets will serve as an excellent addition to the ever-expanding portfolio of Disrupt Equity.”

The Houston and Austin metro areas rank among the top multifamily investment markets in the U.S., driven by diversified economies, strong job markets, attractive living conditions and rapid population growth. Houston is projected to experience the largest population gain in the U.S. from 2020 to 2025, while Austin has remained one of the fastest-growing metros in the nation for more than a decade.

In July, it was announced Lion Real Estate Group, a Dallas-based investment firm focused on multifamily properties, acquired the Surround Apartments, a 354-unit apartment community in Irving from Nitya Capital.


Nov. 2, 2023 Realty News Report Copyright 2023

Image courtesy Newmark

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