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EY Announces Swapnil Agarwal of Nitya Capital as an Entrepreneur Of The Year® 2023 National Finalist

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EY Announces Swapnil Agarwal of Nitya Capital as an Entrepreneur Of The Year® 2023 National Finalist

HOUSTON, Nov. 15, 2023 /PRNewswire/ — Ernst & Young LLP (EY US) announced Swapnil Agarwal, founder and CEO of Nitya Capital, as the national finalist for 2023 Entrepreneur Of The Year®. He was selected from a pool of 224 regional award winners representing 197 companies across the United States. Entrepreneur Of The Year was created to honor those visionary entrepreneurs who dare to reimagine what is possible and develop products and solutions that disrupt markets, revolutionize industries, and transform lives. Now in its 37th year, it is celebrated as one of the most respected business award programs in the world.

Swapnil Agarwal was selected by a panel of independent judges made up of entrepreneurs and other notable business leaders from across the US. The candidates were evaluated based on their demonstration of building long-term value through entrepreneurial spirit, purpose, growth, and impact, among other core contributions and attributes.

“I’m deeply honored to be among the 49 National finalists for Entrepreneur Of The Year®. This recognition aligns with my vision for positive change through entrepreneurship, emphasizing community upliftment and innovation. I am immensely grateful to our dedicated team whose hard work made this possible. A special thanks to our investors; their belief in our mission drives our progress. This journey wouldn’t be feasible without their invaluable support.” stated Swapnil Agarwal, CEO and Founder of Nitya Capital.

Agarwal’s business, Nitya Capital, is an international real estate investment firm based in Houston that focuses on the acquisition and management of opportunistic and value-added multifamily properties. Since Nitya Capital’s early inception, the company has acquired nearly 40,000 multifamily units, 1 million square feet of commercial office space, 6000+ Beds of Student Housing, and 300k square feet of retail/mixed-use, all located in the Sunbelt states. The company’s leadership brings extensive expertise in global real estate and multi-sector investing, adeptly navigating various business cycles, including challenging economic downturns. Nitya Capital has a focused investment strategy and a track record of delivering strong returns, boasting an average IRR of over 25% across 77 exits, highlighted by substantial revenue and NOI growth across its portfolio.

Since 1986, Entrepreneur Of The Year® has celebrated entrepreneurs whose drive, innovative spirit, and creativity have fueled their companies’ success, revolutionized their industries, and positively impacted their communities. The National finalists and winners were announced during a celebration held at the Strategic Growth Forum®, one of the nation’s most prestigious gatherings of high-growth, market-leading companies. Learn more about the Entrepreneur Of The Year® National finalists and winners at https://www.ey.com/en_us/entrepreneur-of-the-year/meet-the-winners-and-finalists.  

Sponsors

Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year Awards include presenting sponsors PNC Bank, SAP America and the Ewing Marion Kauffman Foundation.

About Nitya Capital  
Nitya, known for its role as investor-operator, champions a strategic approach encompassing pre-acquisition to post-acquisition phases. Our dedicated team meticulously oversees vital performance indicators, utilizing extensive market research and data analysis to optimize asset performance. We emphasize a comprehensive due diligence process and employ a hands-on asset management model, embodying an unwavering commitment to precision and excellence throughout its operations. 

About Entrepreneur Of The Year® 

Entrepreneur Of The Year® is the world’s most prestigious business awards program for ambitious entrepreneurs. These visionary leaders deliver innovation, growth and prosperity that transform our world. The program engages entrepreneurs with insights and experiences that foster growth. It connects them with their peers to strengthen entrepreneurship around the world. Entrepreneur Of The Year is the first and only truly global awards program of its kind. It celebrates entrepreneurs through regional and national awards programs in more than 145 cities in over 60 countries. National Overall Award winners go on to compete for the World Entrepreneur Of The Year title. Visit ey.com/us/eoy.

About EY

EY exists to build a better working world, helping create long-term value for clients, people and society and build trust in the capital markets.
Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate.

Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today. 

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.

Ernst & Young LLP is a client-serving member firm of Ernst & Young Global Limited operating in the US.

Published on 11/2/2023 – List all Blogs

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Nitya Capital Closes Sale of Four Multifamily Properties in Texas

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Nitya Capital Exits Three Assets in Texas Delivering Strong Returns

Houston-Based Investment Firm Achives Oves 77 Successful Exits in the Last Decade

HOUSTON – (BUSINESS WIRE) – Nitya Capital, the international real estate investment firm headquartered in Houston, has recently concluded the sale of three multifamily properties in both the Austin and Houston regions. These transactions contribute to Nitya’s growing record of 77 property exits valued in excess of $2.5bn since its establishment in July 2013, solidifying its standing in the real estate investment sector.  

“Our 3-asset portfolio has delivered an impressive 1.5x equity multiple return to our investors. These exits are truly reflective of our value proposition in this space of creating value at the asset level through physical upgrades and operational efficiencies,” stated Swapnil Agarwal, CEO and Founder of Nitya Capital. “Despite the challenging capital market environment, characterized by a nationwide slowdown in acquisition and disposition activities, our dedicated team has adeptly managed high interest rates and inflation to achieve these remarkable returns, ensuring vital liquidity for our valued investors. With these recent exits, we maintain an impeccable record of 77-0, boasting an average IRR of over 25% across these 77 sales.”  

  The strategic property acquisitions by Nitya Capital in 2018 paved the way for an ownership transition in September 2023, when Disrupt Equity assumed control of the following three properties:  

  • Treehouse Apartments located in Austin, Texas has 297 units  
  • Waterstone Place located in Fort Bend, Houston, has 168 units.  
  • Stonecreek Apartments, located in Harris County, Houston, has 208 units.  

  Over the years, Nitya Capital diligently improved these properties through various enhancements, including interior and exterior upgrades, pool renovations, kitchen modernization, and the introduction of community amenities.  

  Nitya owns and manages a robust portfolio of 54 assets that include multifamily, student housing, and commercial properties. As we diligently enhance their value, we’ll remain vigilant in assessing market conditions for well-timed strategic decisions. Our outlook for 2024 anticipates the pursuit of highly profitable opportunities.  

  Nitya marked a decade of growth, innovation, and success earlier this year. Looking ahead, the company remains committed to its vision of sustained triumph, aiming to continue its legacy of excellence well into the next decade. Nitya Capital’s ability to adapt and thrive in ever-evolving real estate markets is a testament to its enduring strength and unwavering dedication to its investors.  

Read more at: https://nityacapital.com/nitya-capital-exits-three-assets-in-texas-delivering-strong-returns/

Published on 11/2/2023 – List all Blogs

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Nitya Capital Closes Sale of Four Multifamily Properties in Texas

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Nitya Capital Closes Sale of Four Multifamily Properties in Texas

The Houston Based Investment Firm Has Completed More Than 70 Exits in the Past 10 Years

HOUSTON – (BUSINESS WIRE) – Nitya Capital, an international real estate investment firm headquartered in Houston, today announced the sale of four multifamily properties across the Dallas, Austin and San Antonio regions. These most recent deals total 73 property exits for Nitya since the company was founded in July 2013.

Since its inception, Nitya has closed more than $8B in transactions including $4.2B in acquisitions, $2.4B in exits and $1.7B in recapitalizations. These four recent sales bring Nitya’s total exits to 73 of its 129 total properties purchased in its 10-year lifespan.

“These recent deals embody the success our company and investment partners have achieved since I first started this company,” said Swapnil Agarwal, CEO and Founder of Nitya Capital. “I am extremely proud of our team for the longstanding success we’ve had as we near our 10-year anniversary. The U.S. real estate sector has seen a slowdown since late last year, but our team continues to execute at a high level and identify the bright spots in multifamily investing. Once the sector rebounds completely we will be well positioned to pursue more opportunistic deals in the Sunbelt states and other high growth areas.”

All four sold properties – listed below – were acquired by Nitya within the last four years. During that timeframe, the firm added value to the assets, which included interior and exterior upgrades, pool renovations, new kitchen renovations, new leasing office, new community amenities and much more.

• Candlelight Park Apartments located in Duncanville, Texas (a suburb southwest of Dallas) has 128 units and was purchased by Lone Star Capital in March 2023
• Terrain at Medical Center located in San Antonio’s South Texas Medical Center (northwest of the city) has 224 units and was purchased by Nord Group in March 2023
• Latitude Apartments, also located in San Antonio’s South Texas Medical Center, has 268 units and was purchased by Nord Group in March 2023
• Park at Crestview, located in north Austin, has 248 units and was purchased by Nord Group in April 2023

These exits follow similar sales of several Texas properties conducted by Nitya last year, when the firm predicted a slowdown in the real estate market. Following last year’s deals, the firm acquired diverse, newer multifamily properties in high growth markets – i.e., Florida, Tennessee and Indiana – while costs in those regions were still opportunistic.

“Our activity in 2022 helped us create a more lucrative portfolio for our firm and partners in 2023,” continued Agarwal. “We are sitting on a very strong set of multifamily properties. As we continue adding value to our portfolio, we’ll continue to monitor market conditions for the right time to make moves.”

Nitya will be formally announcing its 10-year anniversary celebration in July as it looks back at its growth, successes and the teams that helped it scale up to the international firm that it is today. Nitya looks to continue its successes well into the next decade.

Read more at: https://nityacapital.com/nitya-capital-closes-sale-of-four-multifamily-properties-in-texas/

Published on 5/15/2023 – List all Blogs

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CARROLL Credit Gets Ready for Multifamily Distress in the Sunbelt

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CARROLL Credit Gets Ready for Multifamily Distress in the Sunbelt

The bet is that the promised land of demographic shifts and lower costs of living isn’t immune to the fiscal and systemic pressures hitting CRE.

Another day, another set of companies interested in the potential that CRE distress might offer. Atlanta-based real estate investment platform CARROLL Credit is working with institutional partners to pull together $250 million for structured capital investments in multifamily primarily found in the Sun Belt.

That region as well as the West have been seen by the industry as fertile grounds for profits, given shifts in demographics and businesses moving to the areas. Those changes have directly and indirectly driven demand for housing. As is true elsewhere in the country, costs of buying a house, compounded by rising mortgage rates, have pushed many people firmly into the arms of rental living.

But it’s easy to misapprehend the situation. Talking of the Sun Belt market in particular, David Lynd, CEO of the Texas-based Lynd Group, who has acquired and developed real estate there for 40 years, previously told GlobeSt.com, “It’s divided into a lot of different submarkets like Arkansas, Oklahoma, Texas, Florida. It is not a one-size-fits-all solution. The bottom line is they’re having their ‘day in the sun.’ We love the Sun Belt, we love everything it represents, but this pandemic certainly threw gas on the fire and accelerated markets into a big population boom.”

“It’s harder to underwrite deals, even though the rent roles are coming,” Swapnil Agarwal, CEO of Nitya Capital, told GlobeSt.com. “A lot of people are betting on rent growth.” They justified low cap rates with the promise of future higher rents, but how long will renters have the same income multiples of rent that have been available?

Back to Carroll. As a PR rep for the firm wrote, “high cap rates caused by rising interest rates and other factors – affecting developers/owners who bought properties too high and at low cap rates” are a major reason Carroll expects distressed multifamily properties. Following that are frozen markets, where owners can’t get loans to complete deals, and maturing loans that might leave many unable or unwilling to refinance at higher rates.

The plan is for CARROLL Credit to leverage the parent company’s operational capabilities, as it currently has 32,000 multifamily units across nine states. According to the company, the choice of properties will be those that, if necessary, it would be comfortable taking over in case the owner can’t continue payments.

Carroll is not the only platform interested in the potential that current conditions might provide. Greystone Commercial Mortgage Capital, an affiliate of CRE finance firm Greystone, and Inlet Real Estate Capital formed a joint venture to provide short-term, floating-rate capital to troubled CRE property owners.

The original article by Erik Sherman can be found on GlobeST.com https://www.globest.com/2022/11/09/carroll-credit-gets-ready-for-multifamily-distress-in-the-sunbelt/

Published on 6/11/2021 – List all Blogs

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Multifamily Investing In A Recession-Prone Environment

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Multifamily Investing In A Recession-Prone Environment

Word has spread across various channels warning of a potential recession on the horizon. While none of us are sure which way the wind will blow, the Federal Reserve has recently raised federal rates amid inflation’s 40-year peak. Market fluctuations have also grown significantly more volatile, with economists predicting a 60% probability (subscription required) of a recession within the next 12 months. Suffice it to say, a severe market decline is a potential reality that we all must bear the burden of withstanding, especially in questioning where we choose to invest. Let’s explore different possibilities to find stability through multifamily investing amid the shaky tide of net losses and gains.

Learning From The Past

We should all be well acquainted with troublesome economic patterns given our previous exposure a little over a decade ago. The example of 2007-2008 laid the groundwork to help investors withstand a future economic downturn. In recent years, modern multifamily investment has displayed an even more significant degree of growth and stability than one would initially expect in the wake of the Covid-19 pandemic. In the past, I’ve claimed that real estate investing’s most vital attributes include generational shifts, impacts on demand, supply shocks and investor demand.

Real estate investing displays striking recession-resistant features, one of which is the intrinsic human need for affordable housing options regardless of bull or bear market status. Housing is a fundamental human requirement and, when faced with the prospect of a downturn, many risk-averse individuals choose to continue renting rather than explore the economic stresses of homeownership. Today, we’re seeing that home prices have not decreased, while interest and mortgage rates have gone up significantly compared to even months ago. Some analytics have found that the average single-family home is 43.7% more expensive than it was in 2019. Additionally, when markets weaken, former homeowners often return to the rental market as a haven from foreclosure. Add this to a slackening wave of labor required for homebuilding, and it’s very easy to see how demand might swing in real estate’s favor for flexible investment.

When we examine the previous economic downturn’s ripple effects, reports indicate only a 7.9% cumulative rent decline in multifamily, contrasted to 17% in industrial/office rent and approximately 14% in retail. And that doesn’t account for the state of real estate at that point in history compared to today’s sounder, more technologically advanced footing. In our modern economy, residential apartments possess an extremely handy quirk in dealing with inflation. If inflation is high, rent growth will increase as well because rents make up 40% of the consumer price index.

New Residential Spaces

Class A real estate typically yields solid returns when centrally located in walkable, urban areas surrounded by amenities, providing a sense of both cost-effective and convenient living to future tenants. Multifamily’s durability, practicality and adaptability across divisions all cement it as a major marker for profit growth regardless of downward shifts in the global economy at large.

In recent years, I’ve additionally seen a high degree of success in off-campus student housing. The need for new residential spaces close to major universities, thanks to the ever-increasing importance placed in higher education, has remained a growing trend throughout the decade. Even more striking, overall occupancy volume has bounced back very quickly even in the face of unprecedented global circumstances. Following the effects of the Covid-19 pandemic, occupancy rates initially declined. But subsequently, they rebounded to higher than pre-Covid levels for the 2021-2022 school year. Even in the previous financial crisis, student housing seemed to prosper overall, with university enrollment growing consistently throughout 2007-2009.

The off-campus student housing market is expanding further, with steadily growing enrollment in the largest universities. Student housing has great supply-demand metrics, with excellent visibility given its pre-lease environment, offering a safe hedge for investors looking for low-risk, resilient pursuits. Investors are enjoying the high rent growth that multifamily and student housing provide because of the short-term nature of their leases.

Final Thoughts

The right real estate investment opportunity is comprehensive, aims to generate strong income streams and ultimately preserves wealth across economic cycles. Investors are rightfully cautious when it comes to their financial pursuits, but there is also plenty of room for exploration, operational trust and attention placed on the more intimate human-oriented details that shape the need for places to live. Ultimately, carefully selected real estate ventures have the potential to allow investors to reap the benefits of long-term wealth creation even through periods of economic uncertainty.

The information provided here is not investment, tax, or financial advice. You should consult with a licensed professional for advice concerning your specific situation.

The original article with Forbes can be found here: https://www.forbes.com/sites/forbesbusinesscouncil/2022/11/04/multifamily-investing-in-a-recession-prone-environment/?sh=3132d95756e1

Published on 11/4/2021 

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Swapnil Highlights Overcoming Adversity with The Dealmakers’ Edge Podcast

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Swapnil Highlights Overcoming Adversity with The Dealmakers’ Edge Podcast

In this exciting podcast episode in association with AY Strauss, Swapnil highlights the importance of fighting back against adversity, honing a stronger sense of growth and development within the scope of his role as a leader and entrepreneur.

Check out https://www.youtube.com/watch?v=D7xY1SPabm0

Watch the full podcast at: https://podcasts.apple.com/us/podcast/21-the-american-dream-mindset-with-swapnil-agarwal/id1594666011?i=1000583081545

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Nitya Capital Contributes to New York Times Piece

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INFLATION HAS HIT TENANTS HARD. WHAT ABOUT THEIR LANDLORDS? | NITYA CAPITAL WAS FEATURED IN THE NEW YORK TIMES’ MOST RECENT PIECE COVERING INFLATION

Publicly traded corporate landlords are reporting some of their highest margins ever, while smaller operators say rent increases are eaten up by costs.
Lydia DePillis tackles this pressing issue, featuring an assorted collection of expert opinions across the article.

…”Take Swapnil Agarwal, whose Houston-based Nitya Capital has grown swiftly to encompass 20,000 units. He says insurance premiums, payroll costs and maintenance have combined to push his expenses to $7,000 per unit this year from $5,500 in recent years.

“It’s ironic, because our net operating margins have not gone up — actually, they’ve gone down,” Mr. Agarwal said. The picture may improve as he renews leases at market rates. “Yes, the rent growth is there,” he said, “but it has to sustain there for a while because of the costs going up.”

Many midsize landlords are also in the business of acquiring, renovating and building apartments. Rising interest rates have made that much more difficult.”

Read more at:
https://nityacapital.com/inflation-has-hit-tenants-hard-what-about-their-landlords-nitya-capital-was-featured-in-the-new-york-times-most-recent-piece-covering-inflation/

Published on 6/11/2021 – List all Blogs

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Nitya Capital Continues Global Growth, Opens Investment Opportunities for UAE

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Nitya Capital Continues Global Growth, Opens Investment Opportunities for UAE

HOUSTON–(BUSINESS WIRE)–Today, Nitya Capital, a U.S. real estate investment firm, announced that it is expanding to the United Arab Emirates (UAE) as part of its continuing global growth strategy. Nitya plans to open an office in January 2023 to grow its investor base and provide opportunities to directly invest in U.S. real estate amid shifting global economies and stock market fluctuations.

Following the recent opening of Nitya’s India office in 2020, the expansion to the UAE underscores the increase in global demand for reliable alternative investment opportunities found in U.S. real estate, particularly multifamily. Nitya’s UAE branch plans to reach a newer, locally sourced investor base, specifically family offices, institutions, and high-net-worth investors.

“Opening our first branch in the Middle East is an exciting stepping stone in Nitya’s growth,” said Swapnil Agarwal, CEO of Nitya Capital. “The Middle East is a very important hub for Nitya given our recent successful capital raises in the region, and we can’t wait to offer the best in real estate services to Middle Eastern institutions and high-net-worth investors. I’m very grateful for the love and hospitality I’ve experienced during my many visits to the UAE and it’s an honor to be working with the investment community.”

Published on 6/11/2021 – List all Blogs

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Growing An Enterprise: Swapnil Agarwal’s Mark On Real Estate Invest

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INVESTING DURING THE PANDEMIC: SWAPNIL AGARWAL OF NITYA CAPITAL ON WHAT WE SHOULD DO WITH OUR MONEY CONSIDERING ALL OF THE VOLATILITY AND UNCERTAINTY TODAY

Established in 2013, Nitya Capital is a privately held real estate investment firm that focuses on the acquisition of opportunistic and value-add multifamily properties. The company’s objective is to enhance the value of its investments through extensive renovations while maximizing returns to investors and providing residents with a safe and enhanced quality of living.

They specialize in repositioning well-located assets with significant value-add potential through the successful ex…

Published on 6/11/2021 – List all Blogs

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After closing $2.15B in deals, Houston-based Nitya Capital aims to balance profits with purpose

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INVESTING DURING THE PANDEMIC: SWAPNIL AGARWAL OF NITYA CAPITAL ON WHAT WE SHOULD DO WITH OUR MONEY CONSIDERING ALL OF THE VOLATILITY AND UNCERTAINTY TODAY

Swapnil Agarwal knows what it’s like to live in a blue-collar community. As an immigrant teenager growing up in west Houston, his family’s apartment was burglarized three times. Whenever there was a murder in the crime-ridden complex, the owners just changed the property name, he said. Those early experiences motivated him to launch his own apartment company in 2013 with the goal of providing safe, clean and affordable housing for working families.

Nearly a decade later, Agarwal, 41, has built his firm, Nitya Capital, into a major player in Houston’s apartment market with nearly 20,000 apartments nationally and $3 billion worth of assets under management, including commercial properties. Last quarter, Nitya Capital closed on more than $2 billion worth of transactions, and it’s on track to close $4 billion to $5 billion in deals this year, the company said.

Nitya Capital is transforming its portfolio — selling hundreds of assets in Houston to diversify and grow in other states. It’s also expanded into the student housing sector, adding 8,000 beds in a string of deals in less than a year.

About 80 percent of its 600 employees are people of color or women — a nearly unheard of statistic in the commercial real estate industry, which is often criticized for its lack of diversity. Agarwal also oversees Nitya’s charitable arm, Karya Kares, which provides rental, educational and health care assistance to low-income families in India and the United States.

“I wanted to start a business where it’s more than just profit driven,” Agarwal said. “It’s always had the impact angle for me.”

View the source version on:

https://nityacapital.com/after-closing-2-15b-in-deals-houston-based-nitya-capital-aims-to-balance-profits-with-purpose/

Published on 6/11/2021 – List all Blogs

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