LAS VEGAS — The Bascom Group has purchased Sun Chase, an apartment property in Las Vegas, in an off-market transaction for $40.5 million, or $202,500 per unit. The name of the seller was not released.
Annie Rice and Jamie Kline of JLL Capital Markets sourced the acquisition loan from ACRE Credit for the purchase. Scott McClave and Tom Gilfillan of Bascom oversaw the acquisition for Bascom.
Constructed in 1984/1985, Sun Chase features 200 apartments in a mix of one- and two-bedroom floor plans. Community amenities include a fitness center, resident clubhouse, pool, barbecue area and putting green. Bascom plans to modernize the fitness center, clubhouse and pool areas while repurposing the putting green into a central park with a play structure, barbecue station, seating areas and landscaping.