Nitya Capital, the Houston-based real estate investment firm led by Swapnil Agarwal, has completed the $700 million refinancing of a premier multifamily portfolio.
The refinancing was structured with a fixed-rate senior loan originated and securitized by Citi.
The 18-property portfolio includes a blend of class A student housing and class B market-rate multifamily assets (including the project Hatteras), located across high-growth and demographically strong markets such as Dallas, Indianapolis, the Carolinas, Nashville, Phoenix and Las Vegas.
"This refinancing validates the enduring strength of our portfolio and our disciplined investment approach," said Swapnil Agarwal, founder and CEO at Nitya Capital. "Amidst rising interest rates and market dislocation, we delivered institutional execution with premier global capital partners."
The capital stack was structured as a CMBS transaction featuring a fixed-rate senior loan.
