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.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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