Los Angeles Bascom Group and Oaktree are both based in Los Angeles.

LOS ANGELES—A joint venture between the Bascom Group and Oaktree Capital has purchased a multifamily and retail portfolio from Camden Property Trust for $630 million. The portfolio has 15 properties, including multifamily, a retail center and 19.6 acres of undeveloped land, all located in Las Vegas submarkets. Bascom and Oaktree plan to refresh and upgrade the properties as part of their value-add business strategy.

“Oaktree and Bascom have been very active partners together in the Las Vegas market, and we have bought a number of properties together already,” Scott McClave, senior principal of transactions and finance at Bascom Group, tells GlobeSt.com. “This portfolio is right down the fairway in terms of asset class and asset quality of what we buy, which is 90s product that is well located. This portfolio is almost exclusively on the Westside of the valley, and it is very high quality with clubhouses, leasing offices and well-amenitized pools. It is a great physical plan and a great base product to work with, which we found exciting because it allows us to focus our additional investment dollars in upgrades and improvements.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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