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Next Wave Sells Las Vegas Asset After 15 Month Hold
The Spanish Oaks was sold for $50 million. Next Wave acquired the property in February of 2021 for $28.5 million.
Built in 1976, the complex features 216 garden-style apartments. The real estate investment company implemented a renovation plan that included upgrades to 30 units as well as enhancements to the exterior and amenities. Next Wave’s Jordan Fisher explains how it all worked out, “We began our acquisition of this property amidst the thick of pandemic-driven uncertainty in October 2020, when investors generally saw a light at the end of the tunnel but still shied away from largely tourism-driven cities like Las Vegas and Orlando,”
Next Wave currently lists 10 properties under their management, making up 3,200 units.
