{"id":1004101882,"date":"2014-08-06T07:51:27","date_gmt":"2014-08-06T15:51:27","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=282722"},"modified":"2022-12-08T20:01:38","modified_gmt":"2022-12-09T04:01:38","slug":"bascom-group-oaktree-jv-buys-new-m-f-asset-in-henderson","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bascom-group-oaktree-jv-buys-new-m-f-asset-in-henderson\/","title":{"rendered":"Bascom Group, Oaktree JV Buys New M-F Asset in Henderson"},"content":{"rendered":"

By Alex Girda, Associate Editor<\/em><\/p>\n

Bascom Group and funds managed by Oaktree Capital Management LP have teamed up to acquire The Edge at Traverse Point, a 296-unit multi-family property in Henderson. The deal closed at the end of last month.<\/p>\n

\"\"<\/a>Nationwide Life Insurance provided debt financing, which was sourced by Charles Halladay of HFF. Angela Powers and Carl Sims of Hendricks-Berkadia represented the seller in the transaction.<\/p>\n

Bascom and Oaktree launched their $250 million joint venture earlier this year when the entity purchased The Springs Apartments, a 320-unit community located in Corona, Calif. The Edge is the venture’s second multi-family purchase in the past month. \u00a0<\/span><\/p>\n

Located at 1131 Wigwam Parkway, the complex was completed last year and offers one-, two-, and three-bedroom units. Units at The Edge at Traverse Point offer stainless steel appliances, granite countertops, modern wood cabinetry, in-unit washer and dryer, as well as flat-screen TVs. Exterior finishes and amenities include a clubhouse, a resort-style pool with cabanas, a caf\u00e9, a business center and a 24-hour health center.<\/p>\n

The new ownership plans to upgrade common areas and interiors in order to turn the asset into a best-in-class property, Tim Whitting, Bascom’s Senior Vice President of Operations, said a statement.<\/p>\n","protected":false},"excerpt":{"rendered":"

A Henderson multifamily asset recently traded hands when a Bascom Group venture and funds managed by Oaktree Capital Management LP moved on the local market for a new acquisition. The $250 million venture is now the new owner of The Edge at Traverse Point residential community after the deal was officially closed at the end of last month.<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1593,21742],"tags":[1815],"class_list":["post-1004101882","post","type-post","status-publish","format-standard","hentry","category-las-vegas","category-latest","tag-national"],"acf":[],"yoast_head":"\nBascom Group, Oaktree JV Buys New M-F Asset in Henderson - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/bascom-group-oaktree-jv-buys-new-m-f-asset-in-henderson\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bascom Group, Oaktree JV Buys New M-F Asset in Henderson\" \/>\n<meta property=\"og:description\" content=\"A Henderson multifamily asset recently traded hands when a Bascom Group venture and funds managed by Oaktree Capital Management LP moved on the local market for a new acquisition. 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