Next Wave Investors LLC recently acquired Willow Creek Apartments, a 160-unit garden-style apartment community in Prescott for $58 million. The firm has been highly active in the Arizona market since 2016, successfully bringing several multifamily assets located throughout Phoenix and Tucson full cycle, according to Jordan Fisher, principal at Next Wave.

“We’ve been consistently identifying opportunities in the Arizona market for some time and have been looking to expand into additional cities such as Prescott that offer a high quality of life for residents,” says Fisher. “The city has experienced robust growth over the past decade, with its population increasing by 16.28 percent since the most recent census in 2010, and is currently growing at a rate of 2.24 percent annually. Located just 1.5 hours north of Phoenix, Prescott is a highly sought-after destination for people relocating to Arizona.”