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The Bascom Group and Oaktree Capital Management Purchase Upscale Res Community in the Vegas Metro Area

9/23/15

Vantage, a 110-unit premier luxury rental community in the Las Vegas Metro area, was acquired by a $300 mil venture between The Bascom Group LLC and funds managed by Oaktree Capital Management, L.P. in a $39 mil transaction. The property is located at 201 South Gibson Rd, and also includes just over four acres of land that has been entitled for additional multifamily development.

Perched on a hillside high above the desert floor, Vantage offers majestic views of the surrounding mountains and the Las Vegas skyline. The property features single-story flats and multi-level penthouses with expansive open floor plans averaging 1.8k sf in size.

The lavish amenity package complements the ultra-premium interior finishes and sleek modern design. Residents enjoy a resort-style pool, cabanas, an oversized infinity edge spa, and a theater. Unit plans include 20-foot floor-to-ceiling windows, gourmet kitchens with quartz countertops and high-end appliances, and spa inspired bathrooms with frameless glass, open showers.

Vantage marks Bascom’s ninth acquisition in the Las Vegas Valley in the past 20 months. John P. Cunningham and Charles Steele of JLL represented the seller, GRE Vantage, LLC and GRE Paseo Verde, LLC, in the deal. Debt financing was provided by Guardian Life Insurance Company of America and arranged by Charles Halladay of HFF.

Scott McClave, Senior Principal for Bascom, noted, “Vantage is one of the highest quality apartment communities we have ever acquired and is one of the highest quality projects in Las Vegas today.

The concentration of retail, amenities, and job centers surrounding the City of Henderson make Vantage one of the most desirable locations in the Las Vegas Metro. Residents are less than one mile from I-215 which provides access to the entire Las Vegas Valley. Other notable destinations include: District at Green Valley Ranch, Green Valley Ranch Resort, Spa, and Casino, Sunset Station, Galleria Mall, Union Village and the Las Vegas Strip.







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