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California group spends nearly $25M to acquire North Las Vegas townhomes

A few weeks after it announced the purchase of hundreds of apartments in Las Vegas, a Southern California firm has picked up dozens more rental homes in the valley.

The Bascom Group recently announced that it purchased 93 units in Suncrest Townhomes, a duplex-style community in North Las Vegas, for $24.75 million.

The two-story homes each have an attached two-car garage and a backyard, Scott McClave, senior principal of acquisitions and finance at Bascom, told the Review-Journal.

Bascom acquisitions manager Tom Gilfillan said in a news release that demand for single-family rental homes “exploded” last year as people “sought more space” amid a competitive market with tight inventory.

Bascom, based in Irvine, California, announced earlier this month that it purchased a three-complex portfolio in Las Vegas, comprising 390 apartments total, for $72 million.

Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.

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