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Nitya Capital has secured a $700 million CMBS refinancing note for an 18-property collection, including Class A student housing properties and Class B multifamily communities. Citibank securitized and originated the fixed-rate senior loan.

The properties are spread through markets such as Dallas, Indianapolis, Nashville, Tenn., Phoenix, Las Vegas, as well as the Carolinas. Additionally, the collection includes the Project Hatteras Investors properties, for which Nitya raised $76.1 million in 2022.

That year was massive for the company, closing $2 billion worth of transactions in just the first quarter. For reference, Nitya has completed $10 billion in deals to date since its 2013 inception.