The Bascom Group, a private equity firm focused on multifamily, commercial and non-performing loans and real estate-related investments and operating companies, has purchased Montierra, a 346-unit apartment community in Houston, Texas.
The property was developed by Sueba USA and offers interior floorpans with existing construction and design elements that are ideal for upgrades. This marks Bascom’s fifth acquisition in Houston in the past two years. Equity capital was provided by Cadre, making the Montierra acquisition the second joint venture between Cadre and Bascom in 2022.
“This acquisition continues our Texas strategy of acquiring well located, newer vintage assets with minimal deferred maintenance and value-add potential,” comments Chang Liu, acquisitions director for Bascom.
JLL represented the seller in this transaction.