Bascom Ground Acquires Homestead at Boulder City in Nevada for $3M

by Jeff Shaw

BOULDER CITY, Nev. — The Bascom Group LLC has acquired Homestead at Boulder City, a seniors housing community in the Las Vegas suburb of Boulder City, for $3 million.

 Homestead is a single-story building constructed in 1999. It features 72 units of seniors housing. Vincent Punzi and Lowell Takahashi of Berkadia arranged the debt financing for the acquisition, with Kairos Investment Management Co. as the lender. Brad Goodsell, Vince Viverito, Jason Punzel and Brad Clousing of Senior Living Investment Brokerage (SLIB) represented the undisclosed seller. Apartment Management Consultants will provide property management and SD-CAP will provide construction management for future renovations Homestead at Boulder City sits on 6.4 acres and features 71 parking spaces and an average unit size of 467 square feet.  Bascom’s planned renovations include upgrading appliances, countertops, lighting, fixtures and wood plank flooring. Common-area improvements are planned for the leasing office, gym and entertainment lounges.

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