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Nitya Pays Nearly $150M for Sunbelt Student Housing
Houston-based Nitya Capital has acquired two Class A student housing properties in the Sunbelt region, increasing its student housing portfolio to nine total assets spanning eight universities in five states. Although deal terms weren’t disclosed, Nitya said the two acquisitions were valued at nearly $150 million in total.
The first property, in Starkville, MS, was acquired from FPA6 The Pointe, LLC. The second property is in Greenville, NC, and was acquired from a major investment management firm. The two Class A properties contain 1,829 beds and are located near high-growth universities.
“As university enrollment continues to increase and students are opting to return to class in person, the demand for student housing will only continue upward, especially in the high-growth parts of the country, such as the Sunbelt region,” said Nitya Capital CEO Swapnil Agarwal. “These assets present favorable opportunities for us and our investment partners.”
- ◦Sale/Acquisition
