Next Wave Investors, LLC (“Next Wave”) a private equity firm focused on value-add multifamily investments, has sold Aspen Village Apartments, a 90-unit apartment community in West Valley City, Utah to a local buyer.
Next Wave, via a subsidiary company, initially purchased the property in 2019 with the intention of implementing value-enhancing renovations to improve market penetration and operating efficiency. Through enacting this proven value-add program, the firm was able to increase the value of the asset by over 50 percent in just a little over two years, according to Jordan Fisher, Principal at Next Wave.
Article Source: Utah Business