A partnership between Nitya Capital (“Nitya”), Silverpeak and the Olayan Group was formed with the completion of a $150 million recapitalization of a portfolio of five Class B multifamily assets located in Houston, Texas. Nitya ultimately delivered a solid net return to its investors in the transaction and fully realized the investment. In conjunction with the recapitalization, Nitya will remain in its role as an owner-operator of the assets and will continue to focus on quality property management and execution of value-add improvements across the properties.
Totaling over 1,500 units, the portfolio is comprised of five separate workforce housing assets that are well-located in attractive Houston submarkets with easy access to the city’s major employment hubs.
Founder, Swapnil Agarwal, “Nitya Capital was created to reposition real estate assets and unlock significant value for its investors. This is possible due to the meticulous execution of each property’s detailed investment strategy. This transaction is yet another example proving our strategy works well, and we are proud to continue our involvement with Olayan and Silverpeak to unlock additional value.”
“Houston is a market with strong demographics that support the need for quality workforce housing, and we look forward to working with Nitya’s team given their local experience and deep knowledge of this sector,” said Masood Bhatti, Managing Director at Silverpeak.
About Nitya Capital
Nitya Capital is a privately held real estate firm with approximately $2 billion in real estate assets throughout the country. The firm's assets span from its 16,000 multifamily units to commercial office, single family homes, retail, townhome development and multi-use ground-up development projects. Nitya is a vertically integrated real estate platform that manages its assets through its sister property management arm, Karya Property Management.
Silverpeak is an alternative investment management firm focused on creating long-term value in three specific sectors: real estate, energy, and credit. The firm’s sector-focused platform includes more than 100 employees who have invested in over $18 billion in gross asset value since the firm’s founding in 2010. Further information is available at https://www.silverpeak.com/.
About The Olayan Group
The Olayan Group is a private, multinational investor with decades-old experience in US real estate and a very substantial portfolio of multifamily properties in major metro markets.