LAS VEGAS, NV – The Bascom Group has bought The Ellison, a 294-unit apartment community located at 9235 West Russell Road in the Summerlin/Spring Valley submarket of Las Vegas, Nevada. The buy price was $103,000,000, or $350,340 per unit. Lee Redmond, Nicholas Schroeder, Vincent Punzi, and Lowell Takahashi of Newmark arranged the debt financing for the acquisition, while AXA Investment Managers US Inc. provided the acquisition loan. The Newmark Investment Sales team led by Jonathan Merhaut, Doug Schuster, and Curt Allsop 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-tale apartment community offering studio, one-bedroom, and two-bedroom floor plans averaging 901 square feet. Arguably one of the top apartment communities in the Las Vegas metro, The Ellison stands apart from its competitors with wrap construction that 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 Gilfillan, Vice President at Bascom, stated, “Opportunities like The Ellison do not come around often. This is a brand-new, institutional-quality asset bought at a basis significantly below what it would cost to build today, in a submarket with one of the strongest long-term growth tales in Las Vegas. We are excited to get to work.”
The Ellison is situated along the I-215 Freeway in “The Curve,” a stretch of southwest Las Vegas with direct access to Summerlin, the Las Vegas Strip, and Harry Reid International Airport. The surrounding area is home to several major developments underway, including the Athletics’ new MLB stadium, Intermountain Healthcare’s Children’s Hospital, and expansions of the Roseman Nursing School and the UNLV Harry Reid Research & Technology Park.
Bascom plans to complete lease-up of the property and implement institutional-grade management through Cushman & Wakefield to optimize operations and enhance the resident experience. Jason Hanna, Senior Principal of Operations at Bascom, added, “The Ellison sets a new standard for apartment living in this submarket, and we are excited to build on that foundation. There is no comparison in the area to the Ellison’s incredible rooftop with the heated resort-style pool, jumbotron screen, clubhouse lounge, spin room, Pilates studio, and indoor-outdoor fitness center – all with incredible views of the Las Vegas strip.”
Since 2013, Bascom has been one of the most active buyers in Las Vegas, having bought 37 properties totaling 9,959 units across the metro, representing over $1.4 billion in total acquisition cost. The firm currently owns nine communities in the market and has previously owned two properties within half a mile of The Ellison, including Spectrum Apartments, which is located directly across the street. Tom Gilfillan added, “The Ellison is a notable example of why we keep coming back to Las Vegas. The Summerlin/Spring Valley submarket consistently outperforms the metro, with stronger demographics, higher income levels, and demand drivers that are real and growing.”

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LYNNWOOD, WA – American Capital Group (ACG), a full-service real estate investment and development company, and Clarion Partners, a leading real estate investment manager, announced the completion and opening of Enso Apartments, a 316-unit multifamily community located at 19630 40th Ave W, Lynnwood, Washington.
Enso Apartments is a transit-oriented development (TOD) located within a federally designated Qualified Opportunity Zone in the heart of Lynnwood City Center. Ideally positioned along Interstate 5 and walkable to the Lynnwood Link Light Rail Station, Enso offers residents convenient access to Downtown Seattle and connections to major employment centers across the Greater Seattle area. The development reflects ACG and Clarion s focus on transit-connected, high-growth markets where quality housing investment makes lasting community value.
The community features 316 apartment homes – a mix of studios, one, two, and three-bedroom floor plans – alongside approximately 3,950 square feet of retail space. Residents of Enso will delight in a robust suite of amenities designed for modern, zen-inspired living, including a central courtyard, state-of-the-art fitness center, yoga studio, game zone, co-working spaces, and sky lounges with mountain views. All units also feature in-home air conditioning.
Enso is a community we re incredibly proud to bring to Lynnwood, built with thoughtful design, connectivity, and quality housing in mind, said BJ Kuula, CEO of American Capital Group Lynnwood has evolved significantly, anchored by the opening of light rail and a growing renter base that values both access and quality of life. Enso is our commitment to that growth, and we’re pleased to deliver a place residents are genuinely excited to call home.
This development reflects Clarion s continued focus on well-located housing in markets supported by strong demographic and employment fundamentals, said Adam Wheeler, Managing Director at Clarion Partners. Enso Apartments is designed to contribute meaningfully to the evolving Lynnwood City Center area while meeting the needs of today s renters.
Enso Apartments arrives at a critical moment for housing in the Puget Sound region. Snohomish County has experienced steady wage growth, and the Lynnwood submarket continues to attract renters seeking more flexibility and convenient regional access. With the Lynnwood-to-Seattle light rail commute clocking in at just 28 minutes – Enso offers a compelling live-work-play option in one of the Pacific Northwest s fastest-growing corridors.

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COLUMBUS, OH – Lincoln Avenue Communities (LAC), a mission-driven acquirer and developer of affordable housing, broke ground on Landmark on Scioto, a new affordable housing community in Columbus, Ohio. The development marks LAC’s first ground-up construction project in the State of Ohio and will provide 321-units of high-quality, affordable housing to residents earning up to 60% of the area median income (AMI).
“LAC is proud to partner with state and local leaders to deliver homes that support families, strengthen neighborhoods and contribute to Columbus’ long-term vitality,” said James Riley, LAC Vice President and Regional Project Partner. “Landmark on Scioto represents a meaningful investment in this community, and we look forward to providing high-quality, affordable housing to the individuals and families who call Columbus home.”
Situated on 44.5 acres, Landmark on Scioto is a Build-to-Rent (BTR) community of one- and two-tale buildings featuring 321 2-, 3- and 4-bedroom homes. Communal amenities will include a fitness center, pool, clubhouse, outdoor eating and grilling areas and a variety of open spaces throughout the community. LAC also plans to dedicate roughly 7 acres of the site to the City of Columbus, which will ultimately be converted into a public park.
Riley was joined at the event by local leaders and elected officials, including U.S. Representative Mike Carey (OH-15), Ohio Housing Finance Agency Executive Director Bill Beagle, and OCCH President and CEO Catherine Cawthon.
“Landmark on Scioto marks a significant advancement of the OCCH mission to make affordable, sustainable communities that empower residents and enhance their quality of life,” said Catherine Cawthon, President and CEO of OCCH. “It is a wonderful example of the commitment our partners have made to the Columbus community.”
“We are grateful to our partners and stakeholders for their support in expanding access to high-quality affordable housing in Columbus, and we look forward to seeing the lasting impact this development will have on the residents it serves,” added Riley.
Construction on Landmark on Scioto is underway, and the community is expected to start leasing in the summer of 2026, with full completion expected in 2028.

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