Next Wave Investorshas acquired 380 apartment units in Phoenix, Salt Lake City and LasVegas. The value-add investment firm is bullish on these secondaryWestern US markets, which have shown significant growth in recentyears and have become a good late-cycle play. Next Wave is bullishon these three markets because of that recent growth and the futuregrowth potential.

"All three of these markets are high-growth. Utah and Nevadarecently tied as the number one states for job growth in the US,while Arizona's job growth is second in the nation, led by growingindustries such as tech, bioscience, manufacturing, andhealthcare," Jordan Fisher, a principal at NextWave Investors, tells GlobeSt.com. "By investing in these marketsnow, we are able to leverage these growth fundamentals andestablish economies of scale through streamlined management."

For Next Wave specifically, these markets are not only a goodfit for the firm and its investment strategy but also foroperations and management of the asset. "We can easily get to them.Rather than passively managing assets, Next Wave is high-touch inour management strategies, meaning we are physically visiting everyproperty we own at least once each week," says Fisher. "Ourinvestors value our role as active managers, and see tremendousbenefits from this strategy."