Bascom Group Continues Arizona Acquisition Spree, Acquires 196-Unit Apartment Community in Tucson Metro for $11.6 Million
IRVINE, Calif., April 16, 2021 /PRNewswire/ — The Bascom Group, LLC (“Bascom”) has acquired Sierra Charles Apartments (“Sierra Charles”) in the Tucson metro area. Bascom purchased Sierra Charles, a 196-unit garden-style community built in 1985, for $11,600,000, or $59,164 per unit. Financing for the acquisition was provided by MF1 Capital and was arranged by Brian Eisendrath and Cameron Chalfant at CBRE Capital Markets. Property management will be provided by MEB Management Services and construction management will be provided by CAPgro Construction Management.