California group spends nearly $25M to acquire North Las Vegas townhomes
A few weeks after it announced the purchase of hundreds of apartments in Las Vegas, a Southern California firm has picked up dozens more rental homes in the valley.
The Bascom Group recently announced that it purchased 93 units in Suncrest Townhomes, a duplex-style community in North Las Vegas, for $24.75 million.
The two-story homes each have an attached two-car garage and a backyard, Scott McClave, senior principal of acquisitions and finance at Bascom, told the Review-Journal.
Bascom acquisitions manager Tom Gilfillan said in a news release that demand for single-family rental homes “exploded” last year as people “sought more space” amid a competitive market with tight inventory.
Bascom, based in Irvine, California, announced earlier this month that it purchased a three-complex portfolio in Las Vegas, comprising 390 apartments total, for $72 million.
Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.