A Southern California real estate firm has picked up three apartment complexes in Las Vegas for more than $70 million combined.
The Bascom Group announced that it acquired the 144-unit Spectra at 4000, the 118-unit Spectra East, and the 128-unit Spectrum at Katie for $72 million.
Scott McClave, senior principal of acquisitions at Bascom, said in a news release that the valley has seen “robust population growth throughout the pandemic” and that his group believes Las Vegas’ “low tax, high entertainment, business friendly environment” will “thrive in the decade ahead.”
Spectra at 4000 is located at 4000 E. Bonanza Road; Spectra East, 4521 E. Bonanza Road; and Spectrum at Katie, 1601 E. Katie Ave.
Bascom, based in Irvine, California, is no stranger to Southern Nevada.
In 2015, the firm teamed with investment giant Oaktree Capital Management to buy Vantage Lofts, a formerly abandoned, partially built condo project in Henderson that became a pricey rental complex.
The two companies also partnered in 2016 to acquire 15 apartment complexes in the valley, a commercial center and about 20 acres of land for $630 million from Camden Property Trust.