Bascom/Oaktree Finds Vantage Point
- Sep 30, 2015
A $300 million venture of The Bascom Group and affiliates of Oaktree Capital Management has acquired Vantage, a luxury residential community in Henderson, for around $38 million. The joint venture acquired the 110-unit property from Goodman Real Estate and property management duties are being handled by Pinnacle.
Located at 201 South Gibson Road, the property also carries expansion potential; its four-acre site is entitled for additional multifamily development. Vantage has had a troubled history since beginning as a condominium project before its acquisition and completion by John Goodman in 2013.
Vantage’s amenity package includes a pool, cabanas, an infinity edge spa and a theater. Units average about 1,800 square feet in size and feature floor-to-ceiling windows, gourmet kitchens, and bathrooms with frameless glass and open showers. The unit mix consists of single-story flats as well as more expansive multi-level penthouses.
According to real estate data provider Yardi Matrix, rents at Vantage average $2,556, considerably higher than rents at comparable properties in the area. The community is located near I-215, District at Green Valley Ranch, Galleria Mall and the Union Village healthcare project.