investment criteria

Strategy

Next Wave is focused on achieving superior returns by investing in well-located, under-appreciated multifamily properties in high-growth secondary U.S. markets where we can make a meaningful difference in the performance of a property through improved management and capital improvements.

Immediately following the acquisition, our affiliated property management team executes a comprehensive renovation and repositioning program, typically including new model apartments, unit renovations, new exterior paint and signage, and improvements to all common areas. Asset sales are timed to coincide with peak occupancy following renovation.

PREMIER TENANTS…
PREMIUM RETURNS…

Who You Invest With Matters More Than What You Invest In.

Condition

Well-located, attractively priced apartment communities where we can create meaningful value through repositioning and intensive asset management.

Geography

High Growth secondary markets in the Western United States include Las Vegas, Tucson, and Salt Lake City.

Product Type

Class B and C multifamily properties.

Leverage

At stabilization, below 75% LTV.

Hold Periods

One to seven years.

Target IRRs

15% to 25%.

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Next Wave Investors, LLC (“Next Wave”) is a Southern California-based private equity investment firm with a specialized focus in value-add multifamily investments throughout the Western United States.

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