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Bascom Group Spends $72M on Las Vegas Apartment Portfolio

The three-property portfolio includes Spectra at 4000, Spectra East, and Spectrum at Katie and totals 390 units.

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The Bascom Group has expanded its Las Vegas footprint with the purchase of The Spectra portfolio for $72 million. The three-property portfolio totals 390 units and includes Spectra at 4000, Spectra East, and Spectrum at Katie.

Two of the properties—Spectra at 4000 and Spectra East—are located in Spectra at 4000 and Spectra East Las Vegas, which has recently experienced a surge in growth. Spectrum at Katie, on the other hand, is near the Las Vegas Strip and the University of Nevada, Las Vegas. Bascom purchased the portfolio below market value and secured favorable financing through Bridge Investment Group, as a result there is significant upside. The investor plans to implement a value-add business plan. Bascom’s senior principal of operations Paul Diamond said the portfolio was well positioned to attract the mid-market renter.

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Kelsi Maree Borland

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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