{"id":321116,"date":"2026-06-03T16:20:16","date_gmt":"2026-06-03T16:20:16","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-tx\/321116\/"},"modified":"2026-06-03T16:20:16","modified_gmt":"2026-06-03T16:20:16","slug":"nitya-capital-faces-dfw-apartment-foreclosures","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-tx\/321116\/","title":{"rendered":"Nitya Capital Faces DFW Apartment Foreclosures"},"content":{"rendered":"

Swapnil Agarwal\u2019s Nitya Capital hit a $70 million distress patch<\/a> after securing a blockbuster refinancing deal last year.\u00a0<\/p>\n

The Houston syndicator received foreclosure notices for three North Texas apartment buildings in May, according to Roddy\u2019s Foreclosure Listing Service.\u00a0<\/p>\n

At Tuesday\u2019s auction, Nitya could lose control of The Interlace Apartments, a 432-unit complex at 3801 Gannon Lane in Dallas; The Palace Apartments, a 280-unit complex at 1601 Regency Court in Arlington; and Chaparral Apartments, a 135-unit complex at 6520 Red Sierra Drive in Fort Worth.\u00a0<\/p>\n

One William Street Capital Management, which is based in New York, provided the $31.4 million loan for The Interlace, the $28.2 million loan for The Palace and the $10.7 million loan for Chaparral. The financing works out to $83,000 per unit.\u00a0<\/p>\n

Agarwal didn\u2019t respond to a request for comment.\u00a0<\/p>\n

All three properties are owned by the Austin-based Texas Essential Housing Public Facility Corporation, indicating that Nitya used a now-closed loophole in Texas affordable housing law to secure tax breaks on the property. Nitya did sale-leaseback deals for each property in June 2023, weeks before House Bill 2071 closed the loophole that allowed public facilities corporations to operate outside their jurisdictions .\u00a0<\/p>\n

The distress comes about a year after Nitya secured a $700 million CMBS loan<\/a> to refinance 18 multifamily properties while staring down the barrel of a $356 million past-due loan<\/a>. Citibank originated the loan.\u00a0<\/p>\n

Prior to the refi deal, Nitya Capital appeared to be going the way of syndicator peers like Tides Equities, which went belly-up after interest rate hikes upended plans to purchase older apartments with floating-rate loans, fix them up and sell them at a profit.\u00a0<\/p>\n

The foreclosures aren\u2019t the first rumblings of distress for Nitya since the refi deal. A $66 million CMBS loan<\/a> tied to two apartment complexes owned by Nitya was flagged for special servicing in October after a receiver was appointed, Morningstar Credit reported at the time. The loan is marked as current but was delinquent in October, December, January and February, Morningstar shows.\u00a0<\/p>\n

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Dallas leads distress surge as Texas CRE foreclosures top $1B again in June<\/p>\n

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Syndicator Nitya Capital fails to pay off $356M loan at maturity<\/p>\n

\t\t\t<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Swapnil Agarwal\u2019s Nitya Capital hit a $70 million distress patch after securing a blockbuster refinancing deal last year.\u00a0…\n","protected":false},"author":2,"featured_media":321117,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[150,152,151,115018],"class_list":["post-321116","post","type-post","status-publish","format-standard","has-post-thumbnail","category-arlington","tag-arlington","tag-arlington-headlines","tag-arlington-news","tag-nitya-capital-distress"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/321116","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/comments?post=321116"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/321116\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media\/321117"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media?parent=321116"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/categories?post=321116"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/tags?post=321116"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}