Where did that Nitya thread go!!
That was the by far the greatest thread on this forum. Swapnil must have deleted it.
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Bring it back. The CBRE I guy saved it down.
CBRE to the rescue.
Hats off to you for saving! That second sentence- the lack of a plural ("statement" vs "statements") is very Indian- this was either a masterful troll post, or Swapnil himself (or one of his associates).
The fact they deleted the thread seems to indicate it was real
LMAO - this is gold. Swapnil (or someone at Nitya) is living in lala land if they think this is going to be their outcome.
This was the original unedited version
The site seems to be moderating and taking down posts about shops that turn into controversial topics or argumentative.....However some OG amazing fights might be still up.
When you hit 20% IRRs, your threads get taken down. Everyone knows the rules.
Think you mean -20% chief
It's a reference to the og post, hoss
inb4 Swapnil reached out to WSO under a different alias claiming that the thread contained false information (20% IRR) in fear that a news outlet does report on that claim.
Holy shit. This is gold
Hahahaha, I’ve never laughed this hard before reading these posts. Wish I knew about this board before. Boy, there’s a lot of hate here
Welcome aboard the short bus.. we’ve been waiting
When is it arriving big dog?
The censorship on this platform is getting out of hand now
Imagine letting a syndicator strong arm you
Imagine being in charge of $1B+ in multifamily, having nearly $400m of which is no longer servicing their debt. Having your office headquarters in special servicing and not covering payments and having gone through three loan mods. Yet you have the time to come onto a message board with a bunch of analysts and then argue with them or try to persuade them that you're doing well. Like if I was in his position I'd be losing a ton of sleep and would be focused on you know fixing this mess rather than making idiotic personal biographies on YouTube or arguing with a bunch of analysts. Seriously Grant Cardone looks like less of a douche than this guy.
Lol they bought the office building in peak covid.
https://therealdeal.com/texas/2023/10/19/nitya-capital-extends-after-42…
Holy crap. They bought it in Aug 2020. Literally I was going to at least feel bad for them on that loss assuming it was pre-covid. Wow. The lender must be an idiot as well. Theyve extended 3 times since buying it lol.
Bragging about their financial prowess on LinkedIn promoted post:
Bragging about paying off a loan.
...do they know you're expected to do that?
Thank you for putting that into words. I was having trouble pinpointing exactly why that post seemed so stupid and you hit it right on the head.
How do these guys raise money? Do they not give any red flags to LPs/lenders?
Any recent news on these guys? There has to be some foreclosures soon
I havent heard anything. They been silent. Not sure if anyone here knows their lenders...maybe they just keep extending hoping things get better?
George goyal?
That guy is so fucking cringe.
Aww 🥰
(removed)
Where did you hear that?
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Looks like the little guy just refi'd a $700M portfolio into a CMBS loan. https://irei.com/news/nitya-capital-refinances-700m-multifamily-portfol…
Has anyone verified Nitya Capital’s claim of “81 realized exits with zero investor losses across $10B of transactions”?
Even one loss on an exited deal would contradict the claim and constitute trouble with the FTC (Lanham Act) right? I assume Swapnil just doesn't sell his underwater properties and asks for capital calls?
Did he seriously just post this?? He keeps claiming 20%+ IRRs.
Damn you’re pissed…//😂
Sorry to disappoint bud, but why so much hate?
I took a very mediocre stab at analyzing the recent refi. Based on my shitty math, their debt basis is still astronomical. We're talking north of $200k/unit for 60s - 70s vintage shit in Nashville & $170k/unit for similar vintage shit in Arlington. I would love to see the prospectus from Citi for when they actually take this out to market. How in the fuck LOL
Sorry bro your math sucks
So you’re telling me your allocated loan balances for your Nashville & Arlington properties don’t shake out to those numbers? CMBS has much more robust public reporting than your CLO loans, so you can only hide from reality for so long. I’m taking the under on your deals getting cash managed within a year.
Sorry to disappoint so many…..and I don’t need to take any post down or pose as alias. I’m here…let’s go!
@WallStreetOasis.com can y'all verify if this is actually Swapnil lmao
Hahahaha, why you’re so worried? Don’t want to attack me direct? But seriously, why so much hate for me here?
What’s your favorite meal at guard and Grace?
If this is the real you, on no planet are you getting out of this cycle without losing your investors lots of money
You are a terrible operator and you did a bunch of traveling HFC deals to save a bunch of crappy deals. Now that the HB 21 passed you will be up the creek without a paddle on those deals
My advice is to ignore online commentary too
When you respond to it is obvious you know you are screwed.
It’s like when Scott Everitt came on here “fixed rate debt is for suckers” or when the Tides guys did as well defending their deals
Look you got lucky investing in an time where it was easy to raise money for value add apartments
You haven’t done new deals in years nor will you
In a short time you and your ilk will be quickly forgotten and you will move on to some new fad
Bet?
Bro I have 0 traveling HFCs in my portfolio (mine are county approved PFCs and fully approved with no risk)…
Ohh and btw, I haven’t bought in last 2 years for good reasons, but I have bought 6 deals in last 3 months direct from lenders at loan basis, and going to buy a lot more in the next 6 months. I’ll keep giving more and more reasons for you to hate me, so don’t get tired yet ;)
You scare your actual investor to take down his comments about capital calls? You’re such a fearless man.
Swap - what are your thoughts on bridge lenders triggering PG's on all these borrowers recently and how many do you have coming after you?
Sucks! But none coming after me unfortunately to disappoint so many; 90% of my portfolio has long term fixed debt on them and I’m about to refinance the remaining ones….sorry bud wish I had better news for everyone here
"long term fixed debt" - you're such a clown, Swampnil.
$700M of 5-yr CMBS w/ a buydown and a significant mezz slice, sized to a 1.20 interest only DSCR, is not the conservative measure you think it is.
You are a ticking time bomb "bro". I'm sure the bankers and lawyers milked you on this one. Goon.
How much cash had to go in on the cmbs refi and how far did that pref shove your original LP's out of the money?
I want to believe this guy actually made an account on WSO with his email address as his user name.
I just want to believe.
Im legit laughing like a maniac here. I think the fact that hes so defensive tells me that its him. Not only that but he forced that one investor about capital calls to take down his post.
I think this will be the greatest thread in WSO in history.
Oh it’s for sure him. He thought the closing of this CMBS loan was his redemption arc, but, to anyone with two eyes and a brain, it’s a pool noodle in a storm surge.
CMBS is truly the market of last resort for “stabilized” multifamily. It’s hospice care.
His investors are so lucky!!
You need to go back. America is not your cow to milk for the benefit of Agra. You don't get to come here and tell us what the "new American dream" is. We've seen your video and your clear hiring bias.
Ouch!
You're a douche. We're having good discourse regarding a real estate firm and you bring your racist comment here. Delete your comment and rethink your life.
Yeah I didn't think it was possible for someone to come off worse than Nitya in this thread, but here we are.
Mods keep my incendiary first comment but do not let me give any explanation. Mods: If you are going to delete this one, delete them both.
The Europeans went to Africa, formed companies with other Europeans, and sent the riches back home. Today's society condemns this. When a foreigner (does not matter what race- could be European) comes to the US, forms a company with other foreigners, and sends the riches back home... it is somehow different?
Yea bro. Making fun of swapnil for being cringy, true, is one thing. This shit is just low grade human being behavior.
It’s amazing that a group with a track record or lack thereof, like Nitya could even get financed by such a credible lending source like Citi. The portfolio is junk and It seems that Swapnil’s entire career as a syndicator, not as a credible investor with a fiduciary mindset, has been in a Ponzi scheme fashion built on lies and excuses robbing Peter to pay Paul to cover one bad investment to the next while commingling investor funds. It’s not a coincidence that his entire portfolio was in default with various lenders. What a joke and scumbag!
Is it really that amazing? Honestly? Capital is so dumb. Lenders, equity providers - everyone needs to keep the gravy train flowing, no one wants to miss out on even the potential for profit, and at the end of the day the people making the decisions about how capital gets allocated are almost never the ones taking the losses for bad decisions. The people deploying capital get paid for good bets and pass off the losses for bad ones, and a herd mentality always triumphs over actual risk-adjusted analysis. Lending money to Nitya is/was defensible because it's the kind of shit everyone else does. If it works, great! If they go bust, well, whoever originated that loan isn't out of pocket, and after all, random person at Citi can always say "well, everyone made the same mistake so it isn't my fault!"
Once you understand this fundamental truth, that most people are more interested in making the same bad decision everyone else is, rather than taking a more intelligent but contrary position, a lot of the financial world makes a lot more sense. Financiers are among the most risk-averse people on the planet, and it shows in their decision-making.
It is amazing. TLDR.
Extremely true statement. Also a lot about saving face. Pushing something risky/contrary likely will be harder to go get approved in IC with a lot of question marks and potential eyebrows raised vs an easy down the fairway deal that everyone else is doing.
They’re back mass marketing on instagram
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