Bascom Closes Third Multifamily Acquisition Under New Private Capital Platform
IRVINE, Calif., May 19, 2015 /PRNewswire/ — The Bascom Group, LLC has acquired Rose Villas Apartments, an 18-unit community located at 1207 Rose Avenue, Long Beach, California for $2,705,610 or $150,312 per unit and $204 per square foot. This is the third acquisition under Bascom’s new Private Capital Platform, which focuses on buying smaller, value-add multifamily properties in infill locations in Southern California with accredited investors. Debt financing was provided by CTBC Bank Corp. (USA). Mashcole Property Management has been hired for third party property management. Kevin Kawaoka with NAI Capital represented both sides in the transaction.