The Bascom Group of Irvine, Calif., has acquired Jefferson Stonebriar, a newly built 424-unit, Class A multifamily community in Frisco, Texas. JPI, the asset’s seller, is an active developer in the Dallas Metroplex.
Debt financing was arranged by Tip Strickland and Braden Harmon of Berkeley Point Capital.
Brian Murphy and Richard Furr of ARA represented the seller while James D’Argenio and Chang Liu sourced and managed the acquisition for Bascom.
“We acquired a best-in-class asset in a market with outsized economic growth, blue-chip schools, and excellent demographics,” Jason Hanna, Bascom’s senior vice president of operations, said in a prepared statement.