Successful sale and long-term fixed rate refinancing of the underlying assets leads to the facility line payoff
HOUSTON
Nitya Capital, an international real estate investment firm headquartered in Houston, has achieved a significant milestone by fully paying off a $400 million credit facility line of Capital One. This accomplishment underscores Nitya’s financial strength and strategic agility in navigating challenging capital markets.
The current facility’s outstanding loan was secured by three assets: Quarry Trails in Knoxville, Tennessee; Domain at Waco in Waco, Texas; and NTX Domain in Denton, Texas.
The company exited its purchase of Quarry Trails, a class A, 840-bed student housing multifamily asset near the University of Tennessee, bought in 2022 at a “very attractive” sales price. This successful sale allowed Nitya to cash out a significant portion of investors’ original equity.
In addition, the company refinanced the other two assets – Domain at Waco and NTX Denton, both class A student housing properties catering to Baylor University and North Texas Denton. Nitya Capital secured a permanent 10-year financing deal from Argentic Real Estate Finance 2 LLC. This move enabled the company to monetize the value-creation achieved since the acquisition, driven by rent growth and operational efficiencies.
With the closing of these three successful transactions, Nitya has maintained its impeccable track record of delivering returns to the investors with 79 successful exits across 20,000 units, representing over $2.5 billion in value without a single loss. The company has now successfully closed more than 250 transactions valued in excess of $10 billion, including 129 acquisitions worth $5 billion, 79 exits worth $2.5 billion, 60 plus refinancings, and recapitalizations worth $2.5 billion, without a single loss.
Nitya’s portfolio, as it currently stands, consists of 52 affordable multifamily and student housing assets valued in excess of $2.5 billion spread across all the major Sunbelt markets, including Texas and Florida.
“These strategic moves not only provide considerable cash out to our limited partners, giving them liquidity in the short term, but also strategically enhance the long-term value of the overall portfolio,” stated Swapnil Agarwal, Founder and CEO of Nitya Capital. “Our exit strategies are carefully designed to balance immediate liquidity needs with long-term value creation.”
