Next Wave Investors has acquired Spanish Oaks, a 216-unit garden-style multifamily community in Las Vegas, Nev., for $28.1 million. Spanish Oaks apartments are strategically located less than 10 minutes from the Las Vegas Strip.
“Spanish Oaks fits seamlessly within our investment strategy of acquiring value-add assets in well-located, secondary markets positioned for economic growth,” said Jordan Fisher, principal at Next Wave.
Built in 1976, Spanish Oaks features a mix of one- and two-bedroom units that feature large closets and private balconies or patios. Community amenities include a fitness center, pool, clubhouse, laundry facilities, and a leasing center.
Fisher added, “We purchased the property from Southern California Investor[s], who had previously completed renovations to 56 of the units. This gives our team a tremendous opportunity to further create value by implementing a full renovation program to the additional 160 units.”
Next Wave
