Nitya Pays Off Capital One’s $400 Million Credit Facility Line
15 Julio 2024 - 7:00AM
Business Wire
Successful sale and long-term fixed rate
refinancing of the underlying assets leads to the facility line
payoff
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.
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Swapnil Agarwal, Founder and CEO of Nitya
Capital (Photo: Business Wire)
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."
For more information about Nitya Capital and its comprehensive
real estate investment strategies, please visit
www.nityacapital.com.
About Nitya Capital
Nitya Capital is a Houston-based international real estate
investment firm specializing in multifamily, student housing, and
commercial properties. With over a decade of industry experience,
Nitya Capital continues to innovate and deliver great returns
through strategic asset management and a commitment to investor
satisfaction.
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Nitya Capital Media Communications Email:
pr@nityacapital.com