The Bascom Group paid $103 million ($350,000/unit) for The Ellison, a 294-unit apartment community located at 9235 West Russell Road in Las Vegas, Nevada’s Summerlin/Spring Valley submarket. Lyon Living partnered with LandSpire Group and Rockwood Construction to develop the project. Since 2013, Bascom has acquired 37 properties totaling 9,959 units across the metro Las Vegas area.
Completed in 2024, The Ellison is a five-story apartment community offering studio, one-bedroom, and two-bedroom floor plans averaging 901 square feet. It offers an expansive rooftop featuring a heated resort-style pool and spa with a jumbotron screen, clubhouse lounge, spin room, Pilates studio, and indoor-outdoor fitness center.
Lee Redmond, Nicholas Schroeder, Vincent Punzi, and Lowell Takahashi of Newmark arranged the debt financing for the acquisition, while AXA Investment Managers US Inc. provided the acquisition loan. The Newmark Investment Sales team led by Jonathan Merhaut, Doug Schuster, and Curt Allsop represented the seller on the transaction.
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