Next Wave Identifies Ogden-Clearfield as Key Submarket

Next Wave Investors LLC recently acquired a portfolio of four multifamily properties totaling 114 units in the Ogden-Clearfield metropolitan statistical area of Utah. The purchase price was undisclosed.

Next Wave has been active in the greater Salt Lake City market for several years and identified the Ogden-Clearfield MSA as a key submarket with 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 percent and occupancy rates of over 98 percent, creating a high demand for quality multifamily units,” says Fisher, citing recent Yardi Matrix reports. “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.”