The company says the extra space inherent in town home construction is popular with new residents, “The community of Shiloh Park Townhomes features spacious floorplans averaging approximately 1,700 square feet, which we identified as well aligned with long-term renter demand as young professionals continue to seek larger spaces to accommodate working from home, entertaining from home and demands for a total lifestyle community,” says Next Wave’s Jordan Fisher.
The 73-unit multifamily community was acquired in December of 2020. Next Wave says they sold the project for a 38.8% increase over the initial purchase price after holding the property just 18 months.
Before selling the assets, the company enacted a series of renovations to the townhomes, both inside and out.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.