Bascom Arizona Ventures Acquires 423-Unit Multifamily Community in Tempe for $89.2 Million
TEMPE, AZ – Bascom Arizona Ventures, a subsidiary of Irvine, California-based private equity firm The Bascom Group, has acquired the Tempo at McClintock Station Apartments (“Tempo”). Tempo is a mid-rise multifamily property consisting of 423 residential units and one retail unit in Tempe, Arizona. The price was $89.2 million, or $210,377 per unit. The seller was P7 McClintock Station Owner.
Tempo at McClintock Station is a Class A multifamily property situated in the booming North Tempe submarket. Residents of Tempo have “doorstep” access to the Valley Metro Rail, which provides access to Downtown Tempe, the campus of Arizona State University, Sky Harbor International Airport, and Downtown Phoenix.