Houston, Texas, July 22, 2021 (GLOBE NEWSWIRE) -- Nitya Capital has optimized its efforts across the multifamily market with the acquisition of several new properties in recent months. Equally significant is its successful closing of several of its major multifamily properties, which include Woodstone Apartments and The Reserve.
The closing of the two major properties located in Austin, Texas, signified major gains for the privately held real estate investment firm, adding to its increased overall collection of successful outings. Nitya Capital has, in the past, achieved continued advancement within the real estate investment community, fortifying its resolve to provide quality investor-operator services to those looking to take advantage of high-demand properties across the country.
Located in the Mesa Village region of Austin, Woodstone Apartments acted as an accessible means of allowing residents quick access to major Austin highways as well as many major dining and shopping hotspots in the area. Upon its closing with Nitya Capital, it achieved a Final Net IRR on invested capital at approximately 15.2% with an equity multiple of 1.42x. Woodstone marked a successful venture for Nitya Capital within the Austin multifamily market, bolstered by its suburban appeal as well as the city’s growing “Silicon Valley” industry.
Nitya’s second property, The Reserve, is located in the West Congress section of Austin, a mere five minutes away from Downtown. This residence benefited from its close proximity to high-demand areas of the city including various clubs and nightspots, bringing in traffic from urban-bound residents looking to capitalize on Austin’s thriving city life. Upon closing, The Reserve’s Final Net IRR on invested capital was listed at approximately 15.3% with an equity multiple of 1.43x.
Nitya Capital continues to grow and spread across the Texas region, as well as forming new acquisitions in other major parts of the country. Its recent closings indicate a level of successful investment ventures for the company as it continues to pave the way forward for advanced real estate investment.
As Nitya Capital continues to pursue more multifamily projects, including its recent online crowdfunding platform, the Houston-based company plans on taking advantage of increasingly prominent real estate markets as a means of generating higher levels of return from its investors.
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