The Property consists of 52% one- and 48% two-bedroom floor plans and features a fitness center, resident clubhouse, pool and BBQ area, and a putting green. Las Vegas continues to exceed expectations in part due to the region's tremendous quality of life, diversifying economy, business-friendly government, and relative affordability compared to nearby cities."Ĭonstructed in 1984/1985, Sun Chase offers residents a low-density apartment community with efficiently designed floor plans that include private patios or balconies. "īascom's Acquisitions Manager, Tom Gilfillan, added "Bascom and its investors were attracted to this well-located, low-density offering with significant unrealized value-add potential in one of the fastest growing markets in the nation. Macro factors such as population growth, employment growth and diversification, and an ongoing housing supply/demand imbalance continue to a foster a highly favorable rental market, positioning Sun Chase to capitalize on these breakout demographic trends.
The acquisition was overseen for Bascom by Scott McClave and Tom Gilfillan.īascom's Senior Principal of Acquisitions, Scott McClave, stated, "Sun Chase is a highly desirable asset as it was previously owner-managed with a focus on maintaining occupancy. Apartment Management Consultants will provide property management services and SD CAP will provide construction management.
Annie Rice and Jamie Kline with JLL Capital Markets sourced the loan from ACRE Credit. Bascom acquired Sun Chase in an off-market transaction, purchasing the 200-unit garden style property for $40,500,000 or $202,500 per unit. The Bascom Group, LLC ("Bascom") has acquired a 1984/1985 built, 200-unit multifamily property in Las Vegas, Nevada. Subscribe to The Weekly email newsletter by Vegas Business Digest for free.
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