The Bascom Group has acquired The Ellison, a 294-unit apartment community located at 9235 West Russell Road in the Summerlin/Spring Valley submarket of Las Vegas. The purchase price was $103 million or $350,340 per unit. Newmark arranged the debt financing for the acquisition, while AXA Investment Managers U.S. provided the acquisition loan. The Newmark Investment Sales team represented the seller on the transaction. Cushman & Wakefield has been engaged as property manager for the community.
Completed in 2024, The Ellison is a premier class A five-story apartment community offering studio, one- and two-bedroom floor plans averaging 901 square feet. Arguably one of the top apartment communities in the Las Vegas metro, The Ellison offers eight levels of direct-access structured parking and an expansive rooftop featuring a heated resort-style pool and spa with a jumbotron screen, clubhouse lounge, spin room, Pilates studio and indoor/outdoor fitness center.
Tom Gilfil
