HOUSTON – (Realty News Report) – Nitya Capital, a Houston-based real estate firm led by Swapnil Agarwal, announced that it will provide six months of free rent to up to 1,000 Afghan refugee families settling in the United States. The initiative aims to offer immediate relief and stability to families who have fled conflict and are rebuilding their lives in a new country.
Nitya Capital controls a nationwide portfolio that includes approximately 20,000 apartment units, along with a substantial collection of single-family homes, office buildings and retail centers. The company says the rent assistance program is part of a broader effort to support communities in need while leveraging its existing housing capacity to make a meaningful humanitarian contribution.
“This opportunity is designed to cultivate a sense of security and peace of mind for refugees who may be experiencing difficult circumstances,” the company said in a press release. “We are providing practical, free resources as these families recover from the ordeals of the international crisis.”
The firm is also pursuing an aggressive acquisition strategy. Nitya Capital reported a record transaction volume of roughly $2.2 billion for 2021 and said it has more than $1.1 billion in active deals expected to close later this year. The company is targeting selective, often off-market portfolio acquisitions where bulk pricing offers the potential for attractive returns.
Swapnil Agarwal’s own story underscores the company’s growth. Agarwal immigrated from India at age 15 and settled in Houston with a working-class family. Early on he took jobs such as distributing pizza flyers in the Westchase area. One of the buildings where he worked left a lasting impression and became a personal goal: to one day own the 12-story office tower he admired. That aspiration was realized last year when Nitya Capital acquired One Westchase Center, a 466,000-square-foot building at 10777 Westheimer Road.
Agarwal commented on the company’s trajectory: “We continue to grow our portfolio through selective acquisitions of large, off-market portfolios, where we see opportunities to take advantage of bulk or discounted pricing. Presently, we have approximately $1.1 billion of active deals in the pipeline, which will be closed by the end of this year. We are proud of what we have achieved thus far and look forward to continued growth and delivering outsized returns for our investors.”
In addition to One Westchase Center, Nitya Capital owns Nitya Tower, a 200,000-square-foot office building formerly known as Norfolk Tower located near the Southwest Freeway and Greenbriar inside Houston’s Inner Loop. About a year ago the company acquired Chasewood Technology Park, a four-building office campus totaling 463,969 square feet in northwest Houston; that transaction added to Nitya’s growing office portfolio.
Agarwal, who also leads Karya Property Management, received the EY Entrepreneur of the Year award in 2017 in recognition of his leadership and business accomplishments.
The company frames its refugee housing initiative as a temporary but vital measure to provide stability during a critical transition period. By offering six months’ free rent, Nitya Capital hopes to give refugee families the breathing room they need to secure employment, enroll children in school, access social services and establish a foundation for longer-term housing solutions.
Nitya Capital’s announcement arrives amid a broader real estate market characterized by significant deal flow and portfolio repositioning. The firm’s stated strategy—buying large, off-market portfolios and applying operational expertise to enhance performance—has driven the recent expansion in both residential and commercial holdings.
While the rent assistance program is focused on Afghan refugees, Nitya Capital positions the effort within a larger commitment to community support. The company’s resources and national footprint enable it to deploy housing quickly where it is needed and to coordinate with local agencies and service providers to support arriving families.
Aug 27, 2021 Realty News Report Copyright 2021
About the author
Realty News Report covers property markets and industry developments across the United States. This report summarizes Nitya Capital’s announcement regarding rent assistance for Afghan refugees and highlights recent company milestones and acquisitions.
Image: Courtesy Nitya Capital.
File: Nitya Offers Free Rent for Afghanistan Refugees
File: Swapnil Agarwal. Nitya Offers Free Rent for Afghanistan Refugees. Karya Property Management. EY Entrepreneur of the Year