The Bascom Group, LLC has bought two apartment communities in the Central Valley, Casa de Luna Apartments and Casa del Sol Apartments.
Bascom bought the 236-unit portfolio for $44,500,000 and each property has a pool and oversized floorplans.
Bascom senior principal, Lee Nguyen, states, “We have seen high demand for renovated apartment units in the Fresno market over the last few years. Our focused renovation plan will present renters with a variety of unit interior finish levels and price points. In addition, we plan to rebrand the communities with new names, signage, and fresh marketing material.”
California Bank & Trust provided the debt financing for the acquisition and was arranged by Charles Halladay, Annie Rice, and Jamie Kline of JLL Capital Markets. SD Cap will provide construction management services and Apartment Management Consultants will provide property management services.