$250 Million Bascom/Oaktree Venture Closes 196-Unit Luxury Apartment Community in Tucson, Arizona
TUCSON, Ariz., Nov. 2, 2016 /PRNewswire/ — The $250 million venture by The Bascom Group, LLC and funds managed by Oaktree Capital Management, L.P. (“Venture”) has acquired Springs at Continental Ranch Apartments, a 196-unit luxury community located in Tucson, Arizona. ACORE Capital provided debt financing, which was arranged by Brian Eisendrath, Brandon Smith, and Annie Rice of CBRE. Art Wadlund & Clint Wadlund of Berkadia represented the buyer and seller on this transaction. The onsite property management will be overseen by Arizona based Morrison, Ekre & Bart Management Services (MEB).