Nine-Property Portfolio Allows Nitya to Capture Market-Wide Rent Growth

Nitya Capital recently acquired nine properties consisting of 2,555 units located throughout the DFW metro area from Raven Multifamily. Between the nine assets, Nitya is budgeting a combined $15 million in renovation work to improve unit interiors and shared amenity space.

NorthMarq’s Dallas investment sales team represented both the buyer and seller in the transaction. Taylor Snoddy, James Roberts and Phillip Wiegand brokered the sale. The Dallas team of Steve Whitehead and William Hancock arranged acquisition financing for the borrower through floating rate bridge financing with a relationship lender.

“This has been a historic year for rental demand across DFW and this portfolio allows Nitya to capture the market-wide rent growth we have seen while diversifying across several different locations,” said Snoddy.

Properties:

• Xander: 332 units located at 2508 Ridgmar Blvd. in Fort Worth
• Bella Vida: 256 units located at 7651 C.F. Hawn Fwy. in Dallas
• The Palace: 280 units located at 1601 Regency Ct. in Arlington, TX
• The Surround: 354 units located at 4299 Pleasant Run Dr. in Irving, TX
• 2704 CDMX: 332 units located at 2704 South Cockrell Hill in Dallas
• The Interlace: 432 units located at 3801 Gannon Ln. in Dallas
• Tradewind: 306 units located at 2136 Tradewind Dr. in Mesquite, TX
• Candlelight Park: 128 units located at 1407 Acton Ave. in Duncanville, TX Chaparral: 135 units located at 6520 Red Sierra Dr. in Fort Worth