Aria Developers is a closed-group real estate syndicate developing multifamily and retail properties in the Houston market.
Aria began its journey with a small multifamily project in 2016. Its first property, Aria at Wilcrest, was built in southwest Houston. While that development was in progress, Nadeem identified another property that would become the future home of Aria at Stancliff.
In the years that followed, Aria added 100+ apartment units every year across Houston, building the portfolio it has now.
One of the strongest marks of Aria's performance: how it bypassed taking on any debt during COVID. Aria self-funded COVID-related expenses, delinquencies, and rent relief — having an in-house property management company significantly helped with this.
Post-COVID, Aria also changed its development strategy and started acquiring land suited for multifamily and retail combined. This opened up a new chapter for Aria as it started shifting its development and investment strategies. This strategy has deepened further in recent years as Aria shifts focus and development capital toward retail properties. This has allowed it to run multiple projects simultaneously and continue to be a closed-group, friends-and-family syndicate.
In the next five years, Aria intends to build over 500,000 SF of retail space in the broader Houston market.
Aria's partners founded Graywood Properties in 2019 to manage the firm's multifamily portfolio. Graywood manages every apartment community Aria has developed.
In-house property management was an intentional part of Aria's growth strategy. Aria holds its properties long term, and managing them directly allows close oversight of operations and of the condition of each property.
Nadeem Abassi co-founded Aria Developers in 2016 and leads the firm's financing and capital activities, including construction loans, permanent financing, and lender relationships. He has placed more than $300 million in debt across the portfolio. Before real estate, he spent a decade developing and operating convenience stores and gas stations across Houston.
Aaslam Nazarali co-founded Aria Developers in 2016 and leads the firm's operations through Graywood Properties, which he runs day-to-day. The portfolio generates approximately $22 million in annual net operating income at roughly 90 percent occupancy. Before real estate, he ran a jewelry retail and wholesale business.
Neha Abassi Huda is Vice President, Leasing & Sales at XAG Properties, where she specializes in retail and land transactions across the Houston market. She is the designated broker for Aria and supports their acquisitions and retail growth strategy.
