X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

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.

More from this author

 

GlobeSt. APARTMENTS Fall 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.