Bascom Group Scores $235M Refi

The Bascom Group has closed on a $235 million refinancing of an 11-property multifamily portfolio spanning five states: California, Colorado, Arizona, Texas and Nevada.

All of the properties are part of Bascom Value Added Apartment Investors II LLC, a Bascom discretionary fund. The majority of the new loans are interest-only with spreads over LIBOR ranging from 180 basis points to 200 basis points, with interest only periods of two to three years.

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