HOUSTON, TX - The Bascom Group has continued their acquisition spree in Texas acquiring two more apartment communities totaling 602 units. The Spencer Park Row is 390 units located near Katy in west Houston. Tranquility Lakeside is 212 units located in the city of Pearland. These acquisitions mark Bascom s 38th multifamily property closed in Texas.
Clint Duncan and Matt Phillips of CBRE represented the seller in the transaction. Oaktree Real Estate Debt Fund III, LLC provided the debt.
CYPRESS, TX - The Bascom Group has continued their acquisition spree in Texas acquiring a 350-unit luxury multifamily property located in the highly desirable master-planned community of Towne Lake in the city of Cypress, Texas. Cantera marks Bascom s 36th multifamily property closed in Texas.
Brian Eisendrath, Annie Rice, and Samantha Jay with CBRE Capital Markets sourced the Freddie Mac senior loan debt financing. David Mitchell with Newmark was the broker. James D Argenio and Chang Liu sourced and managed the acquisition for Bascom.
The property, constructed in 2006, contains a unit mix comprised of 15% one-bedroom, 76% two-bedroom units and 9% three-bedroom units averaging 1,015 square feet. The land size is approximately 13 acres and includes a total of 605 parking spaces. Community amenities include a leasing office, two-story clubhouse, networking center, fitness center, and two swimming pools.
Real estate transactions: Investors buy Houston apartment complexes
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MLG Capital acquired the Heights at Harper’s Preserve, a 328-unit apartment community at 17116 Harpers Trace in ConroeMLG CapitalShow MoreShow Less
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Madera Residential acquired the 620-unit Domain and Lofts at CityCentre at 811 Town and Country Blvd.PCCPShow MoreShow Less
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CenterPoint Properties purchased a 601,261-SF building on 31-acres at 3507 Pasadena Freeway in Pasadena from Link Logistics Real Estate.JLL Capital MarketsShow MoreShow Less
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GenWealth Capital has selected Allied Orion Group to manage Los Prados Apartments, a 264-unit apartment community at 125 Dyna Drive in north Houston.Allied Orion Group / Allied Orion GroupShow MoreShow Less