Houston, TX – February 10th, 2019
MarketSpace Capital, a private equity real estate firm that focuses on ground-up developments, value-add investments and acquiring partial interest in commercial real estate assets, announced a deal with Nitya Capital to invest in three multi-family properties consisting of 650 total units. The properties are located in Overland Park, KS; Dallas, TX and Las Vegas, NV.
The Clear Creek Apartment Homes in Overland, KS, a suburb of Kansas City, consists of 288 units in a Class A property built in 2006. The property offers 1-, 2- and 3-bedroom units and a variety of floor plans, with plans to renovate the space to upgrade the apartments interiors while boosting curb appeal. The area is desirable and known for high-paying jobs and higher standards of living in comparison to other parts of the country.
The Lure is a 3-story, 144-unit Class A property built in 1999 and is situated in the Southwestern Medical District of Dallas. The Lure features 1-, 2- and 3-bedroom floor plans with a host of amenities including a business center, playground and fitness center. Plans to upgrade the property’s interiors and improve curb appeal are in place. The location is marked by well-paying jobs and is a prime location for millennials and young professionals looking to find more affordable housing options outside of other parts of the city.
Plata 47 is a Class B property located in Las Vegas, NV. Plata 47 consists of 218 1- and 2-bedroom units built in 1988. The Las Vegas area has experienced steady population and job growth and remains attractive for those employed in the hospitality industries. Comprehensive renovation plans include upgrading the property’s interiors and improving curb appeal.
Nitya Capital uses an all-inclusive investment strategy to capitalize on favorable demographic trends in their acquisitions says Sohail Hassan, Managing Partner at MarketSpace Capital. The firm has a proven track record in repositioning well located assets with significant value-add potential and we saw this as an excellent seed investment for the MarketSpace Capital Fund.
About Nitya Capital: Nitya Capital is a privately held real estate investment firm based in Houston, Texas that specializes in the acquisition and management of opportunistic and value-add multifamily properties.
About MarketSpace Capital: MarketSpace Capital is a private equity real estate firm that primarily focusses on ground-up developments, value-add investments and acquiring partial interest in commercial real estate assets throughout the United States. To learn more, visit https://marketspacecapital.com/