
872 institutional-quality apartments across Austin, Dallas, Phoenix and Las Vegas, acquired directly from the lenders at $109K per unit, 32% below their recent values. Targeting 16.6% average annual cash distributions and a 42% net IRR over 3 years.
Deal Walkthrough
Project AV² is a lender-sourced acquisition. The buildings were never the problem. The debt behind them was.
Billions in multifamily debt was written when rates were near zero. As those loans matured, refinancing proceeds fell and equity dried up. The prior owners' structures failed even where the properties performed.
Three institutional lenders ended up holding these 5 communities. Lenders are not apartment managers, and holding foreclosed real estate is expensive for them. They need experienced buyers they trust.
We acquired the portfolio at $95.0MM, 32% below its recent values, and the selling lenders provided $82.9MM of the purchase price in financing at a 2.9% fixed rate. That is not available on the open market.
Every return in this deal starts from the entry price, not from optimistic growth assumptions.
Institutional-quality assets in Austin, Dallas, Phoenix and Las Vegas. Not fundamentally distressed, just priced like they were.
Dallas, Texas
Dallas
Austin, Texas
Austin
Phoenix, Arizona
Phoenix
Las Vegas, Nevada
Las Vegas
Las Vegas, Nevada
Las VegasNo rate cuts required. No cap rate compression assumed. The returns are driven by filling units we already own at a discount.
Take the portfolio from 74.2% occupied to 93.9% with Nitya's in-house management, AI-enabled leasing and completed make-readies.
NOI climbs from $6.3MM in Year 1 to $8.2MM at stabilization, driven by lease-up and expense control rather than speculative rent growth.
Stabilized occupancy and higher NOI open agency, bank and CMBS refinancing, replacing the seller financing with long-term permanent debt.
The refinancing targets returning a substantial portion, or all, of investor equity while you keep your full ownership and the upside.
With 50% of equity projected back through distributions during the 3-year hold, investors are projected to reach a 1.5x multiple even if the portfolio sold at today's depressed entry price.
All-in cost of $116K per unit against $250K+ per unit replacement cost. New supply cannot undercut you when it costs more than twice your basis to build.
The investment will be listed on USREM, an SEC-registered secondary marketplace, so you can sell or borrow against your interest before the exit if life changes.
Nitya Capital has operated multifamily real estate for 13 years with vertically integrated, in-house property management.
Acquired 2024 at 77% occupancy. Now 93% occupied under Nitya management, the same lease-up playbook planned for Project AV².
Acquired 2025 at 61% occupancy. Now 90% occupied, proving the model works even from a far deeper starting point than AV²'s 74%.
20 minutes with Nitya's investor relations team. We walk through the deal, send you the full offering memorandum, and answer every question. No obligation to invest.
Deals like this exist only while lenders still hold assets they need to move. Book the call, see the full memorandum, and decide with everything on the table.
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