Next Wave Investors has acquired two multifamily properties in the Pacific Northwest: Serrano North and South in Spokane, Wash., and River Lofts in Tualatin, Ore.
“The opportunity to enter the Oregon market and expand our footprint in Washington is well-timed with our ongoing investment strategy, through which we continue to identify value-add properties situated in markets poised for rapid growth and expansion,” said Jordan Fisher, principal at Next Wave.
Next Wave was an early value-add investor in Las Vegas, Phoenix and Salt Lake City multifamily after the Great Recession. The firm benefited from strong value creation as population and job growth soared in these markets, noted Fisher.
“There is an opportunity to enhance property value in the Pacific Northwest as fundamentals in both Oregon and Washington strengthen,” continued Fisher. “Overarching trends in the region include rising rental demand based on increasing in-migration from California resi