Next Wave Investors Sells Luxury Las Vegas Community
Benedict Canyon Equities acquired the 98-unit asset for $21.5 million. Walker and Dunlop provided acquisition financing.
Harlow Luxury Apartments. Image courtesy of Next Wave Investors
Next Wave Investors has sold Harlow Luxury Apartments, a 98-unit Class A community in Las Vegas. According to Yardi Matrix, Benedict Canyon Equities acquired the asset for $21.5 million. Walker and Dunlop secured a $16 million Freddie Mac acquisition loan. Next Wave acquired the property in 2019 from Pathfinder Partners, for $17.1 million.
Built in 2003, the community comprises one-, two- and three-bedroom units, with walk-in closets, USB ports and a smart technology package. Common-area amenities include a fitness center, clubhouse, swimming pool and spa. The asset also features 152 parking spaces. Before the sale, Next Wave implemented a capital improvements plan for nearly 30 units.
Located at 10620 W. Alexander Road, on nearly 5 acres, the 13-building property is just off Freeway 215. The surrounding area has several retail and dining options, including Lone Mountain Village shopping center, situated within 1 mile of the property. The community is 16 miles from the city’s downtown and 8 miles from North Las Vegas Airport.
