LAS VEGAS, NV – The Bascom Group has bought a 1988 built, 216-unit multifamily property in Las Vegas, Nevada in an off-market transaction. Bascom bought ReNew at Decatur in an off-market transaction, purchasing the 216-unit garden style property for $49,600,000 or $229,630 per unit. Jamie Kline and Annie Rice with JLL Capital Markets sourced the loan from Bridge Investment Group Apartment Management Consultants will provide property management services and SD CAP will provide construction management. The acquisition was overseen for Bascom by Scott McClave and Tom Gilfillan.
Bascom’s Senior Principal of Acquisitions, Scott McClave, stated, “ReNew at Decatur adds another well positioned asset to our Las Vegas holdings, and we are excited about the growth potential in this market sector. The influx of new residents has continued unabated making a growing demand for quality, well-amenitized, mid-market housing at an affordable price. We believe that Las Vegas will continue to attract and retain new residents drawn to its low taxes, affordability, business friendly environment, and quality of life.”
Bascom’s Acquisitions Manager, Thomas Gilfillan, added “Bascom and its investors were attracted to this offering as it has spacious floorplans with a strong mix of two and three bedrooms, a discount to the sale comparables, a desirable value-add opportunity, and an attractive financing environment. We are excited to strengthen our footprint in this quick-growing market that ranks as one of the best in the nation.
Constructed in 1988, Renew at Decatur offers residents a low-density apartment community with expansive and efficiently designed floorplans that include private patios or balconies. The Property consists of 78% two- and three-bedroom floorplans and features a fitness center, resident clubhouse, business center, and pool and BBQ area. ReNew at Decatur is centrally located with convenient access throughout the Las Vegas valley including major employment centers like the world-well-known Las Vegas Strip, the rapidly growing Las Vegas Medical District, and the newly built Allegiant Stadium. The surrounding neighborhood is abundant with retail, recreation, and entertainment offerings catered toward families and individuals alike.
Bascom’s Senior Principal of Operations, Paul Diamond, added, “As part of our strategic renovation plot, Bascom intends to improve to unit interiors by upgrading unrenovated units as well as enhancing the property’s exteriors and community amenities. Most of the units remain in classic condition, giving our team plenty of room to implement a desirable and contemporary aesthetic while maintaining an affordable selection for residents. The Las Vegas market has exceeded growth expectations and suggests an optimistic outlook as job expansion, population growth, and housing shortages continue to drive demand.”

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ORLANDO, FL – A celebratory groundbreaking ceremony took place to mark the commencement of construction on East Park Village Apartments. The 264-unit multifamily development is located at 10735 Moss Park Rd. in the Lake Nona neighborhood of Orlando. The project is backed by serial entrepreneur Dr Kiran Patel.
Dr. Kiran Patel said, “We bought this land eight and a half years ago with the vision of a large mixed-use project and I am pleased to see it come to fruition. This location is incredible and is ideal for any young family starting their lives.”
The $65 million apartment project is part of a $200 million mixed use development and is developed by the Onicx Group. The apartments will feature 335,000 square feet of class A residential apartments including a swimming pool with outdoor kitchen and recreational area, fitness center with spin/yoga room, business center with individual workstations, detached garages, and a playground. The apartments will range in size from one to three bedrooms. With construction now underway, the project is estimated to be completed in early 2024.
Situated adjacent to a nature preserve, the project is the first to break ground in the larger East Park Village Development that will include a medical office building, a hotel and retail spaces. It was designed by The Lunz Group, a Lakeland-based architectural firm. “The Lunz Group is proud to be working alongside the Onicx team to design this new apartment complex for the East Park Village Center,” said Bradley Lunz, President of The Lunz Group. “As a firm, we believe that the focus in multifamily design should be on making positive living experiences, fulfilling one of the fundamental needs of humans. When the project was submitted for building permit earlier this spring, it was, at the time, the largest construction permit sought in 2021 in the Orlando market. We are excited and humbled to be able to serve our communities by making spaces, like East Park Village, that benefit the greater excellent.” The community will be professionally managed by Orlando-based ZRS Management.
Multifamily-focused builder Live Oak Contracting will be the general contractor for the project. “We are expanding our regional footprint with this mixed-use development in Lake Nona. The net migration of Orlando over the last decade justifies the need of a project of this scale and magnitude,” said Dhvanit Patel, President and CEO of Onicx Group. Arjun Choudhary, Vice President of Onicx Group commented on the focus that Onicx Group is placing on the quality of amenities being offered, saying, “Our project will have top of the line amenities and cater to the urban professionals who live in the area.”
The location of East Park Village Apartments will be a desirable factor for residents. In its vicinity, there are trendy restaurants, many healthcare options, and an array of brilliant public schools to choose from. Residents will also delight in proximity to the Orlando International Airport and all the amenities the greater Orlando area has to offer.

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JACKSONVILLE, FL – KKR, a leading global investment firm, announced that KKR Real Estate Select Trust Inc. ( KREST ) and RPM Living Investments ( RPM Living ), a full-service multifamily management, investment and development company, have bought The Beach House Apartments, a multifamily property in Jacksonville, Florida. The transaction is KKR s first multifamily investment through KREST, a continuously offered, registered closed-end fund designed to deliver access to income-oriented private real estate investments.
Completed in 2010, The Beach House is a 228-unit, garden-style multifamily complex located in the Jacksonville Beaches submarket, approximately one mile from public beach access and in close proximity to Jacksonville s well loved beachside entertainment and shopping destinations. The property features luxury interiors, private patios and balconies, and variety of modern amenities, including a swimming pool, fitness center and business center. RPM Living will operate The Beach House and oversee a number of upgrades to ensure the property continues to provide a high-quality residential experience.
We are excited to complete our first residential investment for KREST with the buy of this premium apartment complex located in the highly desirable Jacksonville Beach neighborhood, said Michael Friedland, Managing Director at KKR. We are continuing to deepen our footprint in the quick-growing Sunbelt region and believe this beach-adjacent property offers attractive value to a wide range of residents who are choosing Jacksonville for its fantastic lifestyle and employment opportunities.
The Beach House’s fantastic location coupled with Jacksonville’s current competitive market is what attracted us to this investment and we’re looking forward to further expanding our presence in the Southeast and Sunbelt region,” said Josh Kahn, Chief Operating Officer, Investments at RPM Living.
The investment is part of KREST s stabilized real estate investment strategy, one of the fund s three primary investment strategies, which focuses on thematically-driven, income-generating real estate in high growth markets, including well-leased multi-family. Since launching a dedicated real estate platform in 2011, KKR has grown real estate assets under management to approximately $33 billion across the U.S., Europe and Asia as of June 30, 2021. KKR s global real estate team consists of approximately 130 dedicated investment professionals, spanning both the equity and credit business, across 12 offices and nine countries.

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