X
Upcoming Stories
Phoenix & Southwest CRE News In Your Inbox .

Phoenix & Southwest   /   February 22, 2021

Lisa Brown
By: Lisa Brown

Next Wave Leverages Broker Relationship in Off-Market Buy

Through existing broker relationships, Next Wave Investors LLC was able to acquire a property in an off-market transaction at a discount to replacement cost, according to Jordan Fisher, principal at Next Wave. The firm recently acquired Spanish Oaks, a 216-unit garden style multifamily community in Las Vegas, for $28.075 million. The property is located at 2301 South Valley View Blvd.

“Spanish Oaks fits seamlessly within our investment strategy of acquiring value-add assets in well-located secondary markets positioned for economic growth,” says Fisher. “We have deepened our relationships and presence as an owner in Las Vegas for several years now, while also leveraging economies of scale to deliver long-term value for our investors.”

Next Wave purchased the property from a Southern California investor that had previously completed renovations to 56 of the units. This provides the firm an opportunity to further create value by implementing a full renovation program to the additional 160 units, Fisher says.

Connect
Inside The Story
About the Author

Lisa Brown has more than 30 years of experience in corporate communications and marketing management with organizations including Grubb & Ellis, Marcus & Millichap and NAIOP.
Email the Author

New call-to-action
New call-to-action
© ConnectCRE 2021 / 515 S Figueroa St., Suite 350, Los Angeles, CA 90071.
Contact Us / Policies, Privacy & DisclosuresSubmit Press Release / 
magnifiermenu