Back to NewsIRVINE, Calif., April 15, 2024 /PRNewswire/ — The Bascom Group, LLC (“Bascom”) has acquired Homestead at Boulder City (“Homestead”) for $3,050,000. Homestead is a 1999-built, single-story, 72-unit senior housing property located at 1401 Medical Park Drive, Boulder City, Nevada. Vincent Punzi and Lowell Takahashi of Berkadia arranged the debt financing for the acquisition, with Kairos Investment Management Company as the lender. The Seller was represented by Brad Goodsell, Vince Viverito, Jason Punzel, and Brad Clousing of Senior Living Investment Brokerage (“SLIB”). Apartment Management Consultants (“AMC”) will provide property management and SD-CAP will provide construction management.
Despite the significant increase in interest rates and continuation of the tepid transaction volume in the second half of 2023, Homestead marks Bascom’s fifth acquisition for 2024 following the recent purchase of: Hearthstone at City Center, a 360-unit garden style multifamily community in Aurora, Colorado; the Overlook, a 344-unit garden style multifamily community in Albuquerque, New Mexico; San Miguel Court, a 97-unit garden-style community in Santa Fe, NM; and Texan26, a 204-bed student housing community in Austin, Texas. Bascom has been one of the most active buyers in the Las Vegas Metro, Homestead is Bascom’s 37th acquisition in Clark County, bringing their total to nearly 10,000 units acquired over the past decade.
