In 2008, Nitesh joined NitNeil Partners, a property development company founded by his father. The company specializes in property developments, specifically storage facilities. At the time the company had a portfolio of 10 properties in Alabama and Georgia. The main activity of the company was to act as managers of the properties where they would own and operate each facility.

In 2010, at the age of 30, Nitesh joined EO in New York and attempted to raise growth capital from New York investors. With investors still recovering from losses from the Global Financial Crisis, raising capital proved exceedingly difficult. Nitesh realized that to grow the company, he needed to re-envision the company and create a new strategy that would allow him to create a unique position in the market. The property management strategy they had in place was very defensive. At the time, they had very limited access to capital because all their capital had been deployed to scale to their current size; they were highly leveraged; and disposable income was limited.

In the words of his nominator, “Nitesh talked about the vision he had. He laid out a very specific, concrete vision of exactly what he wanted. He relentlessly broke the thing down, and went after it. But most importantly, he went through a process of continuous self-improvement. He went through a process of transformation necessary to execute”.

Nitesh then went about the process of transforming the company. The worst part of their business was that 90% of their effort went towards managing minimum wage employees who were managing the properties. He made the tough decision to shut down the property management side of the business and sacrifice the fees they were earning from it which represented essentially all their revenue.

Nitesh’s vision was to pioneer a new type of self-storage facility, with a relentless focus on redeveloping buildings in the city areas of second-tier cities such as Charleston, Tampa, Louisville and Atlanta. His vision was to capitalize on the ‘Williamsberg effect’ and built a portfolio of one-off buildings in emerging neighborhoods. This was in stark contrast to prevailing wisdom in his industry to saturate a market with several low-rise, large footprint buildings located in industrial areas. Instead, Nitesh focused on small footprint, high-rise buildings that contributed to the architectural value of the local neighborhood.

In 2010, NitNeil had insufficient financial resources to do any new developments. In the following years (in collaboration with his business partner and brother), Nitesh raised significant outside investment from high-net-worth investors and institutional funds, allowing them to build 10 new projects. They have quadrupled the size of their balance sheet from $30 million to $120 million in the current property cycle. In the process, Nitesh has transformed the company from a family operation to a professional organization which can execute upon much larger developments.

Nitesh has distinguished himself by developing a compelling vision that catalyzed action towards bold new goals for his company.