Over the past few months, Nitya Capital has significantly blazed across the United States with new acquisitions within the multifamily real estate world. So far, Nitya has cemented key multifamily real estate investment opportunities within the states of Texas, Las Vegas, Kansas, and Utah.
Now, as Nitya Capital continues to grow, it has recently set its sights on the southeast region of Denver, Colorado with the recent acquisition of Loft 9 Apartments. Loft 9 Apartments is a 418-unit property spread across 10.6 acres of land with a diverse unit mix of studio, 1-bedroom, and 2-bedroom floor plans. The property holds key market significance through its location in the Glendale University submarket, a prime area for both students and young professionals.
Loft 9 Apartments has displayed a distinguished degree of tenant resiliency despite the recent Covid pandemic, with occupancy levels listed at 94%. The Denver residence also marks a significant opportunity for investors to take advantage of a true “off-market” transaction that represents a “going in” cap rate of 4.69%. Projected returns include a blended cash yield of ~10%, a net IRR of 17%, and a net equity multiple of 1.93x. Loft 9 Apartments also comes with an attractive existing loan of $52.5MM at a 3.67% interest rate with 5 years of I/O remaining, contributing to an excellent overall cash yield for investors.
Loft 9 Apartments signifies a major turning point for Nitya Capital’s expansion, presenting a larger overall reach in Colorado as well as featuring a crucial multifamily offer for investors eager for significant returns within the Denver area.
Nitya Capital aims to further its high-demand property acquisitions across the country, allowing investors to explore new, profitable investments within multifamily markets. Currently, Nitya Capital is providing an online crowdfunding platform opportunity to directly link investors with new acquisitions, and all without third-party fees. Interested parties may visit Nitya Capital’s main crowdfunding page at https://nityacapital.com/invest/.