Bascom/Oaktree JV Finds Asset No. 7 in Henderson

A joint venture between The Bascom Group and funds managed by Oaktree Capital Management, L.P. recently completed the acquisition of a Henderson, NV multifamily asset. The $300 million venture now owns the Villa Serena community in the Las Vegas area, situated in the immediate proximity of the Union Village the first integrated health village in the world. Financing for the transaction was provided by Mesa West Capital in Los Angeles, and was arranged by CBRE Capital Markets representatives. The seller worked with CBRE representatives during the deal.

A joint venture of The Bascom Group and funds managed by Oaktree Capital Management L.P. recently completed the acquisition of a multifamily asset in Henderson. The $300 million venture is the new owner of Villa Serena. The 288-unit community is located near Union Village, which is billed as the world’s first integrated health village.

Mesa West Capital of Los Angeles provided acquisition financing, which was arranged by CBRE Capital Markets. The seller worked with CBRE Group Inc. representatives during the deal.

Villa Serena is located at 325 North Gibson Road, Half of its units are two-bedroom apartments, 45 percent are one-bedroom units and the remaining five percent are three-bedroom units. Residences feature full size washers and dryers, walk-in closets, nine-foot-high or vaulted ceilings and private patios or balconies.

The master-planned Union Village development comprises a massive hospital complex and health center, a large retirement community and a civic and cultural arts center. Also nearby are the Galleria Mall and the District at Green Valley Ranch retail centers.

Villa Serena marks the joint venture’s seventh acquisition. Since its launch in March 2014, the partnership has also purchased properties in Arizona, California, Florida, Georgia and Texas as well as Nevada.