Las Vegas, Nevada, May 18, 2021 (GLOBE NEWSWIRE) --
Nitya Capital has consistently delivered significant closing success for their property ventures, taking on new acquisitions and substantially closing at solid returns. Plata 47 marks another key closing for the Houston-based company, adding to its history of efficiency when it comes to multifamily properties.
Located in Las Vegas, Nevada, Plata 47 is a 218-unit Class B property centered just off I-15. Originally built in 1988, the property benefitted largely from a steady population and job growth within the area and remained an attractive property for those working in the local hospitality industries. The Las Vegas climate coupled with the area's burgeoning social and economic growth made it a highly desirable location for investors to take note of.
Nitya describes the overall sale process of Plata 47 to have gone smoothly, closing less than 60 days from executing the full agreement. Nitya describes overall returns for Plata 47 at a stellar rate of 29.3% IRR and 1.73x equity multiple achieved in a little over two years. This IRR rate exceeded Nitya Capital’s previous projected IRR by ~10%, a notable leap forward for the real estate investing company. Nitya was additionally able to increase the NOI by over 35% in two years through increased efficiency in operations and a targeted interior and exterior renovation strategy, adding to the property’s appeal as well as the company’s ultimate profitability in returns.
Nitya Capital continues to expand its reach across the country with new acquisitions and increased multifamily real estate opportunities for investors. For investors paying attention to properties like Plata 47, Nitya Capital is providing a new online crowdfunding platform to help make the investment process more end-to-end and financially serviceable with no third-party fees. For additional information, investors can visit their main crowdfunding platform page at https://nityacapital.com/invest/.
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