The Bascom Group Acquires 294-Unit Multifamily Community In Las Vegas For $103 Million

A multifamily property, The Ellison, located at 9235 West Russell Road in Las Vegas, NV, was sold for $103,000,000. This apartment community consists of 294 units, with a price per unit of $350,340. The property, which was developed in 2024 by Lyon Living, LandSpire Group, and Rockwood Construction, adds to the buyer's multifamily portfolio in the Las Vegas market.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $103,000,000
• Units: 294
• Price Per Unit: $350,340
• Buyer: The Bascom Group
• Brokers: Jonathan Merhaut, Doug Schuster & Curt Allsop - Newmark
• Lender: AXA Investment Managers US Inc
• Mortgage Brokers: Nicholas Schroeder, Lee Redmond Vincent Punzi & Lowell Takahashi - Newmark

The deal involved several key players with Newmark facilitating the acquisition financing by AXA Investment Managers, further highlighting its role as both the mortgage broker and the representative for the seller in this transaction.