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The Bascom Group Enters Reno Market With Off-Market Acquisition of 147-Unit Sierra Point Apartment Community for $31 Million

RENO, NV - The Bascom Group has acquired Sierra Point Apartments in the Reno, Nevada metro area. Bascom purchased Sierra Point, a 147-unit garden-style multifamily community for $31,000,000, or $210,884 per unit, in an off-market transaction.
The property, built in 1996 & 1998, consists of 84% two-bedroom floorplans. Financing for the acquisition was provided by LoanCore and was arranged by Charles Halladay, Jamie Kline, and Annie Rice at JLL Capital Markets. Property management will be. ....

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