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| 96-Unit La Estrella Vista Apartments, Phoenix, AZ |
Phoenix, AZ – Next Wave Investors,
LLC (“Next Wave”), a private equity firm focused on value-add multifamily
investments through subsidiary investment vehicles, has deepened its investment
in the Western US with the acquisition of 380 multifamily units spanning four
apartment communities, including 96-unit La
Estrella Vista and 149 of the 160-unit Westover
Parc in Phoenix, Arizona; 72-unit Bella Vida in
Las Vegas, Nevada; and 63-unit Townhomes
at Mountain Ridge in Salt Lake City, Utah.
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| 160-Unit Westover Park Apartments, Phoenix, AZ |
Jordan Fisher, Principal at Next
Wave, stated, “With these acquisitions, we are expanding our investment in the
three most active growth states in the nation.
"Utah and Nevada recently tied as the #1 states for job growth in
the US, while Arizona’s job growth is 2nd in the nation, led by
growing industries such as tech, bioscience, manufacturing, and healthcare.
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| 72-Unit Bella Vida Apartments, Las Vegas, NV |
"By
deepening our footprint in these key markets, we are able to execute on our
proven investment strategy and create significant value for our investors.”
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| Jordan Fisher |
Next Wave plans to implement capital upgrades at each property,
including significant exterior and interior renovations at all properties
except Bella Vida, which will undergo only interior unit renovations.
“Each of these acquisitions represents the clear focus of our investment
strategy, through which we identify and acquire under-appreciated multifamily
properties and execute on a proven strategy to improve each asset,” says David
Sloan, Principal at Next Wave.
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| David Sloan |
"We look
forward to further enhancing our market share in the Western US in the years
ahead.”
Contact:
Katie Haga / Jenn Quader
Brower Group
(949) 438 6262
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