Bascom Arizona Ventures, LLC

History & Overview

Mission & Purpose

Market Focus & Investment Criteria

Glenn Daiutolo and Jerry Finney, Managing Directors of BAZV, have combined experience in excess of 58 years in Arizona multifamily.
Involved in over 20,000+ apartment units in Arizona.
Between 2004 and 2005, BAZV acquired 28 properties totaling 9,400 units with an average complex size of 330 units, and a total capitalization of $515M (including $83M in renovations).
Impeccable closing track record; closed 28 out of 29 transactions (97%).
Completed $83M, or $8,830 per unit, in renovations at or below budget and within the renovation schedule.
Previous partners/lenders include: GE Capital, KeyBank, Lehman Brothers, Mass Mutual Life/Babson Capital, Rockwood Capital, Citigroup, and Wells Fargo.
As a principal, Jerry Finney orchestrated the largest multifamily portfolio sale in Arizona’s real estate history, not once, but twice, setting records at two different times.
In 1983, Jerry coordinated the sale of W.R. Schulz’ multifamily portfolio (20 properties – 5,300 units) to Craig Hall for $169M.
Most recently, Jerry coordinated the sale of BAZV’s Phoenix portfolio (12 properties – 5,178 units) at the peak of the cycle in June, 2007 for an Arizona record price of $427.5M.
Small and efficient operation of 4 employees (Glenn, Jerry, Mark Brotherton (asset manager) and Bill Wright (renovations).

To repeat the extremely successful “contrarian investment strategy” Bascom Arizona Ventures, LLC (“BAZV”) accomplished during the previous cycle. Buying when there is fear in the market / selling when there is greed.

Prior cycle, BAZV projected an 18% – 20% property IRR and a multiple on capital of 1.80. However, BAZV actually achieved an average property IRR of 64.23% and a multiple on capital of 2.5 which equated to an approximate profit of $127M over an average holding period of 1.92 years; a total appreciation of 38.83%, or 20.22%/year.

This cycle, BAZV conservatively projects 15-22% property IRRs due to higher equity component and longer holding period.

Track Record & Case Study

Between 2004 and 2005, BAZV acquired 28 properties totaling 9,400 units with an average complex size of 330 units, and a total capitalization of $515M (including $83M in renovations).

Prior cycle, BAZV projected an 18% – 20% property IRR and a multiple on capital of 1.80. However, BAZV actually achieved an average property IRR of 64.23% and a multiple on capital of 2.5 which equated to an approximate profit of $127M over an average holding period of 1.92 years; a total appreciation of 38.83%, or 20.22%/year.

Premier/Growth Market Locations: Scottsdale, Chandler, Arrowhead Ranch, Gilbert, Tempe, East Mesa, Glendale (newest areas).

Distressed Assets: Properties/owners that are financially distressed and have deferred maintenance or value-add components that will benefit the joint venture.

Product Type: B to A+, 1990 and newer (preferably, but will consider older).

Renovations: Anticipated renovations of $7,000 to $10,000 per unit depending on age and property condition; potentially $20,000-$30,000 for certain situations.

Principals & Managing Partners

Our managing partners maintain core expertise in each of the fundamental service disciplines we offer. They share a common vision and exhibit a broad and diverse perspective which results in a strong, successful leadership at our firm. For more information please click here.

Contact Information

Scottsdale Office
9933 E. Bell Rd, Suite 110
Scottsdale, AZ 85260
Tel.: 480-315-1200
Email: info@bascomgroup.com