Alpha Wave acquires 144-unit multifamily property in rapidly growing Las Vegas market

Alpha Wave acquires 144-unit multifamily property in rapidly growing Las Vegas market

Alpha Wave acquires 144-unit multifamily property in rapidly growing Las Vegas market 280 180 Next Wave Investors

“The Las Vegas market is experiencing some of the fastest population and job growth in the country, making it an ideal locale for strategic investment,” says Jordan Fisher, a Founding Partner of Alpha Wave Investors. “There is tremendous excitement surrounding new projects in the region, including the multi-billion-dollar Raiders stadium, several new billion-dollar-plus hotels on the strip, as well as growth of major employers such as Amazon, which is developing a second distribution center in the region.”

The city, which ranks among the top 10 metro areas for population growth, boasted the second-largest employment gain in the U.S. last year, growing 2.9 percent. Fisher notes that the resulting multifamily rent growth – up 5.3 percent year-over-year – demonstrates that market fundamentals are strong enough to support true value-add investments.

Article source: mhpmag.com