Townhomes at Mountain Ridge, Salt Lake City, UT

October 24, 2019 Comments Off on Next Wave Solidifies Southwest Presence with Purchase of 380 MF Units Views: 640 National News, Nevada, Phoenix & Southwest News, Southwest, Utah, West

Next Wave Solidifies Southwest Presence with Purchase of 380 MF Units

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Next Wave Investors LLC, a Southern California private equity firm focused on value-add multifamily investments, further solidified its southwest presence with the acquisition of 380 multifamily units, across four apartment complexes in Arizona, Nevada and Utah.

The apartment properties firmly in Next Wave’s portfolio are:

  • The 96-unit La Estrella Vista, 3065 N. 67th Ave., Phoenix; La Estrella Vista LLC (led by Dennis Shaw), seller
  • 149 units of the 160-Unit Westover Parc, 6515 W. McDowell Rd., Phoenix; Emeric Holdings USA Inc., seller
  • The 72-unit Bella Vida, 1111 S. Cimarron Rd., Las Vegas; Sunroad Research Center Partners LP, seller
  • The 63-unit Townhomes at Mountain Ridge, 3570 S. 300 East, Salt Lake City; seller undisclosed

Next Wave plans to implement capital upgrades at each property, including significant exterior and interior renovations. The exception is Bella Vida, which will undergo only interior unit renovations.

Pictured: Townhomes at Mountain Ridge

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