The Bascom Group Secures $30.8 Million Refinance Loan For 200-Unit Multifamily Property In Las Vegas

The asset involved in the transaction is Gateway Villas, a multifamily community consisting of 200 units located at 3200 Mcleod Drive in Las Vegas, NV. The property underwent renovations and is positioned to benefit from improving occupancy rates in a recovering multifamily market. A refinancing loan of $30,800,000 was secured through Bridge Investment Group. The property was originally built in 1984.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $30,800,000
• Lender: Bridge Investment Group
• Landlord: Paul Zakhary & Scott Mcclave - The Bascom Group
• Brokers: Brian Eisendrath, Cameron Chalfant, Jesse Zarouk & Jake Vitta - Institutional Property Advisors
• Loan Type: Refinance

IPA Capital Markets was instrumental in arranging the financing for the transaction, allowing The Bascom Group to retain ownership of the property. This deal highlights the ongoing efforts by the landlord to improve the operational performance of Gateway Villas amid favorable market conditions.