Next Wave Espands Utah footprint with acquisition of four multifamily communiities totaling 114 units in Ogden MSA

Jordan Fisher

 OGDEN, UTAH and ROY, Utah  – Next Wave Investors, LLC (“Next Wave”) a private equity firm focused on value-add multifamily investments, has acquired a portfolio of four multifamily properties totaling 114 units in the Ogden-Clearfield metropolitan statistical area of Utah.

 Next Wave has been active in the greater Salt Lake City market for several years and has identified the Ogden-Clearfield MSA as a key submarket demonstrating high-growth fundamentals that are well aligned with the firm’s investment strategy, according to Jordan Fisher, Principal at Next Wave.

 “The Ogden MSA has emerged as a top-performing Salt Lake City submarket that is seeing year-over-year rent growth of more than 13% and occupancy rates of over 98%, creating a high demand for quality multifamily units,” says Fisher, citing recent Yardi Matrix reports.

Ogden, UT business district

 “Located approximately 45 minutes north of Salt Lake City, the area’s positioning as a peaceful suburban location with rich local amenities on the cusp of a major city will continue to attract those seeking a more space and small-town feel within close proximity to employment hubs.”

 Fisher notes that the four properties, which were all built between 1970 and 2000, present a strong opportunity for Next Wave to implement its value-add multifamily strategy to modernize the communities and enhance the overall image and curb appeal.

CONTACTS:

Arleeny Escarcega / Elisabeth Manville

The Smart Agency, Inc.

(949) 438-6262

aescarcega@thesmartagency.com