weather icon Clear

California group spends nearly $25M to acquire North Las Vegas townhomes

A few weeks after it announced the purchase of hundreds of apartments in Las Vegas, a Southern California firm has picked up dozens more rental homes in the valley.

The Bascom Group recently announced that it purchased 93 units in Suncrest Townhomes, a duplex-style community in North Las Vegas, for $24.75 million.

The two-story homes each have an attached two-car garage and a backyard, Scott McClave, senior principal of acquisitions and finance at Bascom, told the Review-Journal.

Bascom acquisitions manager Tom Gilfillan said in a news release that demand for single-family rental homes “exploded” last year as people “sought more space” amid a competitive market with tight inventory.

Bascom, based in Irvine, California, announced earlier this month that it purchased a three-complex portfolio in Las Vegas, comprising 390 apartments total, for $72 million.

Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.

Housing nonprofit’s donors build, sell home to fund projects

Proceeds of the sale of a recently completed home will help HomeAid Southern Nevada fund community projects to address vulnerable and homeless populations in the Las Vegas area.

East Las Vegas affordable housing development to expand

Developers have broken ground on Desert Oasis II, a planned 43-unit apartment complex built and operated by nonprofit Volunteers of America National Services.