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Texas  + Dallas-Fort Worth  + Apartments  | 

Next Wave Expands Texas Multifamily Portfolio With Acquisition in Dallas

Next Wave Investors, LLC, a private equity firm focused on value-add multifamily investments, has acquired Casa Luna Apartments, a 232-unit apartment community in Dallas. This purchase brings the firm’s multifamily portfolio in the Dallas-Fort Worth metroplex to more than 300 units.

Located at 8411 La Prada Dr E in Dallas, Casa Luna is 53 years old, however, Next Wave plans to begin intensive capital improvements to the property.

 While other communities in the specific submarket have an average market occupancy in the mid-90% range, the property currently has a high vacancy due to units that were damaged in Texas’s February 2021 freeze event,” continues Fisher. “Next Wave has the expertise required to renovate all vacant units, address deferred maintenance, and activate additional revenue generators to help bolster the overall livability and curb appeal of the property and provide significant upside in rent premiums.”

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About Erik Hamilton

Erik Hamilton, who has more than 15 years in CRE journalism, is a former staff writer with the Los Angeles Times and the Orange County Business Journal. In addition to The Times and the OCBJ, he was also a reporter and editor for Crittenden Research, The San Bernardino Sun and UPI. Erik also worked six years in CRE public relations with Los Angeles-based Hoyt Organization, where he was a Senior Account Executive. He later joined Lee & Associates where he served as the Director of Corporate Communications. There ,in addition to his work with Lee’s CEO, he managed 57 offices nationwide and provided PR, social media and media training for the offices. A graduate of UC Irvine, with a BA in history, he is an avid record collector where he continues to search for a rare Joy Division single.

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