Bascom Sells Luxury Community for $60M

Vantage Lofts. Image courtesy of JLL

Keller Investment Properties has acquired Vantage Lofts, a 110-unit multifamily community in Henderson, Nev., for $60.3 million, representing a price of $547,727 per unit. JLL Capital Markets represented the seller, Bascom Group and Oaktree Capital Management. The property last traded in 2015, when Bascom Group purchased it from Goodman Real Estate for $38.2 million, Yardi Matrix data shows.

Built in 2014, the luxury community is located at 201 S. Gibson Road and features one-, two- and three-bedroom floorplans ranging from 922 to 3,133 square feet. Each unit is equipped with walk-in closets, stainless steel appliances, quartz countertops and washers and dryers. Common-area amenities include a fitness center, a business center, a clubhouse, two swimming pools, two spa centers, outdoor barbecue area, a Wi-Fi café, electric car charging facilities and 212 parking spots.

The three-building community is situated on a 10-acre lot, near interstates 215 and 11, within 15 miles from downtown Las Vegas and 20 miles from Lake Mead and Hoover Dam. Harry Reid International Airport is 11.3 miles away.

Managing Directors John Cunningham and Charles Steele of JLL Capital Markets Investment Advisory team worked on behalf of the seller.

Other recent transactions in Las Vegas metro include Sares Regis Group’s acquisition of Alicante Apartments for $86.8 million and the sale of Las Brisas de Cheyenne for $40 million to Tides Equities. The occupancy rate in Las Vegas dropped 30 basis points in the 12 months ending in February to 95.6 percent and the job market rose 12.6 percent.