The Bascom Group LLC, has closed the offering for its fifth discretionary multifamily real estate investment fund, Bascom Value Added Apartment Investors V LLC. The fund closed with equity commitments of $150 million, with leverage, providing up to $500 million of buying power.
The Fund V has so far acquired 13 multifamily properties across Arizona, Texas, Nevada, California, and Illinois with a total cost of $460 million. The firm plans to complete renovation plans for unit interiors and community amenities. The fund is also made up of HNW individuals, family offices, RIAs and institutions.