The Bascom Group Acquires Homestead At Boulder City Senior Housing For $3M
1401 Medical Park Drive
$3,000,000
Building Size
—
Asset Type
Senior Housing
Closing
Apr 16, 2024
AI
The Bascom Group acquired Homestead at Boulder City, a seniors housing property in Las Vegas' Boulder City suburb, for $3 million. The property comprises 72 apartments on 6.4 acres, built in 1999. The acquisition includes plans for renovations to upgrade appliances, countertops, lighting, fixtures, and common areas.
Summary of transation details:
- Property Type: Senior Housing
- Transaction Amount: $3,000,000
- Address: 1401 Medical Park Drive
- Market: Boulder City, Nevada
- Acres: 6.4
Bradley Clousing, Jason Punzel, and Vince Viverito from Senior Living Investment Brokerage represented The Bascom Group in the transaction. The mortgage brokers involved were Lowell Takahashi and Vincent Punzi from berkadia'>Berkadia. The deal facilitated by berkadia'>Berkadia's debt financing and Senior Living Investment Brokerage's sale arrangement.
Players
Boulder City Senior Housing Market Snapshot
Boundary boundary · Senior Housing · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93