Generating True Alpha, Nitya Capital & Karya Property Management
By Vanshika Vipin Varma
HOUSTON: Houston’s high-flying real estate market has been in the news, from being ranked at the top of a prominent national list of cities to watch, to passing through clouds post Hurricane Harvey, and then bouncing back in the months ahead to some semblance of normalcy. Amongst the ocean of real estate investment companies is one firm that strives to “redefine” multifamily real estate with its unique approach to all aspects of the business. Striving to achieve the goal of generating true alpha, Nitya Capital & Karya Property Management, based in Houston, Texas, focuses on the acquisition and management of opportunistic and value-add multifamily properties. The dynamic team at Nitya brings decades of real estate and multi-sector investment experience coupled with an institutional approach and an active hands-on management approach. Nitya has a targeted investment thesis and a proven track record of realized returns and strong performance as evidenced by significant revenue and NOI growth across their portfolio. The firm’s leadership has decades of experience in global real estate investing and multi-sector investing through business cycles including recessionary environments. All of their assets are managed by a fully owned, in-house property management company- Karya Property Management.
Swapnil & Deepika Agarwal with Congresswoman Sheila Jackson Lee at the inauguration event on October 26.
Very recently, Nitya Capital was in the news as Swapnil Agarwal, Founder & CEO of Nitya Capital and Karya property Management was announced by EY, as the Entrepreneur of the Year 2017. The awards program, which celebrated its 31st year, recognizes entrepreneurs who are excelling in areas such as innovation, financial performance and personal commitment to their businesses and communities. Since its inception in 2013, Nitya has acquired over 10,000 units throughout Texas and currently has $1 billion of assets under management. To be selected from among the most successful entrepreneurs in the Houston and Gulf Coast Region, is an achievement and a testament to the skill & dedication of the team at Nitya Capital. Swapnil, who is responsible for the strategic planning, investment decisions, and overseeing all aspects of the company’s operations, financing activities, and investor relations, was selected as a finalist by a panel of independent judges. In September this year, Swapnil received The Young Entrepreneur of the year award at the Indo-American Chamber of Commerce Gala. Swapnil, who is now a role model for entrepreneurs, shared his story on how he ventured into his dream with modest beginnings, with the support extended by family and friends. With his investment in an apartment complex on Tidwell and I45, and with the blessings of his supporters, he launched Nitya Capital. And there was no looking back from that point on for Swapnil and his college buddies, and now partners, Vivek Shah and Manish Patel.
Swapnil & Deepika Agarwal with Houston Astro George Springer who recently joing the Karya team as the Brand Ambassador for 2018.
On October 26, Nitya Capital & Karya Property Management inaugurated their new swanky office building in Houston. On this occasion, an exclusive star-studded event was organized, and the specially invited dignitaries of town attended it. The chief guest also included Congresswoman Sheila Jackson Lee and Sheriff Ed Gonzalez. After the ribbon cutting ceremony, Swapnil and his wife Deepika, who is also the Head of Marketing for Karya Property Management, welcomed everyone to the lavish and ritzy office. While the cocktail was freely flowing through, the creatively presented hors d’oeuvre had a scrumptious mix of savories and desserts, catered by the best Chinese restaurant in town, Alings. Guests enjoyed the warm and the gracious hospitality extended by the humble Agarwals.
Nitya Capital & Karya Property Management team at the recently held Christmas Gala.
Swapnil and Deepika are involved in several charitable organizations such as Magic Bus and Pratham, and they also support two schools in India. During Harvey devastation, the Agarwals opened their facilities for the people needing shelter, and relocated their affected tenants to safer properties. Their core belief is that family comes first, and they also encourage everyone in their company to give importance to family. In spite of their busy schedule, the Agrawals spend as much valuable time as they can, with their 4-year-old son Aryan. In addition, they organize monthly get togethers and outreach events to benefit their tenants in all their properties. Swapnil & Deepika are a perfect combination of being successful, rich and humble. Thus, creating success stories and win-wins.
Recently Nitya Capital purchased the 11-story Norfolk Tower and will renovate and rebrand the building. The 207,562-square-foot building is 82 percent leased, and Agarwal aims to push it to 92 percent within two years through renewals and new leases. Karya Property Management affiliate will manage the building.
To know more about Nitya Capital visit www.nityacapital.com.