Updated Apr 14, 2026
The Bascom Group Acquires 294-Unit Multifamily Community In Las Vegas For $103 Million
9235 West Russell Road
$103,000,000
Units
294
Asset Type
MultiFamily
Closing
Apr 13, 2026
About this deal
AI
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.
On the Map
$103,000,000
MultiFamily
View full map
Players
Las Vegas MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Jonathan Merhaut to view all their deals.
Browse Las Vegas multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93