The Bascom Group

Spirit Bascom Ventures Acquires Second Metro New York Multifamily Property for $33.05 Million

NEW YORK, Dec. 23, 2013 /PRNewswire via COMTEX/ — Spirit Bascom Ventures, a joint venture between New York City based Spirit Investment Partners, LLC and Irvine, California based The Bascom Group, LLC has acquired the Avalon Crystal Hill apartments, located in Pomona, New York for $33,050,000. The Class A apartment community, located 45 minutes north of midtown Manhattan, contains 169 units, as well as a large clubhouse, fitness center and pool area. The seller was Avalon Bay Communities. Mark Dellilo and Jeff Bastow from BlueGate Partners represented the seller. Gary Mozer, Katie Rodd and Michael Anderson-Mitterling of George Smith Partners secured debt financing of $27,100,000 from Natixis Real Estate Capital.

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