The Bascom Group, a private equity firm specializing in value-added multifamily, commercial, and non-performing loans and real estate-related investments and operating companies, has acquired a 150-unit apartment community in Houston, marking their fourth Houston acquisition in nearly 12 months.

Windwater at Windmill Lakes is a 150-unit community built in 1999 and located in the southeast Houston submarket. The property offers functional interior floorplans with original construction features ideal for upgrades. The community amenities include a tropical pool with beachfront entry, a waterfall, covered parking and garages, large private patios and balconies, and 24-hour emergency maintenance.

Chang Liu, acquisitions director for Bascom, said, “We are very pleased with this acquisition as it aligns well with our Texas strategy of acquiring newer vintage assets with minimal deferred maintenance and major value-add potential.”

Cushman & Wakefield represented the seller in the transaction. Huntington National Bank provided the debt financing for the acquisition. SD Cap Construction Management will provide construction management services and Cushman & Wakefield will provide property management.