LAS VEGAS—The Bascom Group, LLC and funds managed by Carlyle Realty VII, L.P. have invested in a two-property portfolio here totaling 584 residential units. The purchase price was $39.9 million.

The venture partnership assumed $27.1 million of existing conduit debt financing provided by Wells Fargo Commercial Securities, Inc. The two properties are Summerhill Villas located at 2150 North Tenaya Way and Bayshore Club located at 4975 South Duneville Street. The sale closed on September 30, 2014. Doug Schuster and Curt Allsop of Newmark Grubb Knight Frank represented the seller on the transaction. This is the sixth Las Vegas multifamily acquisition in the past year for Bascom.

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