Newsletters

Bascom Group Buys $26M Portfolio

FRESNO, CA-The Irvine-based investment firm acquires the 1,118-unit portfolio of nine apartment buildings here from three family limited partnerships and plans major renovations to all of the properties.

By Bob Howard | Updated on November 05, 2002

FRESNO, CA-The Irvine, Calif.-based Bascom Group has acquired a nine-building, 1,118-unit apartment portfolio of buildings throughout the city of Fresno for $26.054 million. The sellers were HS Family Limited Partnership, JCH Family Limited Partnership and DBH Limited Partnership.

Bascom says it plans major renovations to all of the properties, which were built between 1961 and 1986. The nine buildings include studios, one- and two-bedroom apartments averaging 835 sf with average rents of $380. Renovations will include replacement of the roofs, new landscaping, signage, upgraded unit interiors, exterior paint, construction of new pools and tot lots, and asphalt repairs.

Larry Andrews of Sperry Van Ness in Ontario Calif. tells GlobeSt.com that the portfolio sale was extremely complicated because it involved “a tremendous number of moving parts.” Andrews represented the Bascom Group while Guy Enriquez and George Ouzanian of Sperry Van Ness represented the sellers.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

Unlimited access to GlobeSt and other free ALM publications
Access to 15 years of GlobeSt archives
Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
1 free article* every 30 days across the ALM subscription network
Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account? Sign In Now

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Resource Center

CRE strategies and business decisions are only as strong as the data that powers them, and that data better be correct. This self-assessment will help you gauge your current data management capabilities.

Assessment

Sponsored by Cherre

Data Management Scorecard: A Health Check for Your Data Management Capabilities and Challenges

CRE strategies and business decisions are only as strong as the data that powers them, and that data better be correct. This self-assessment will help you gauge your current data management capabilities.

Browse More Resources ›

CRE strategies and business decisions are only as strong as the data that powers them, and that data better be correct. This self-assessment will help you gauge your current data management capabilities.

Assessment

Sponsored by Cherre

Data Management Scorecard: A Health Check for Your Data Management Capabilities and Challenges

CRE strategies and business decisions are only as strong as the data that powers them, and that data better be correct. This self-assessment will help you gauge your current data management capabilities.

Browse More Resources ›

Does your data inspire confidence or is there a significant lack of trust in its validity? Use this assessment to gauge where your organization’s data practices are at today and what gaps exist.

Assessment

Sponsored by Cherre

Enabling Stakeholder Confidence in Your Data: A Self-Assessment for Real Estate Organizations

Does your data inspire confidence or is there a significant lack of trust in its validity? Use this assessment to gauge where your organization’s data practices are at today and what gaps exist.

Browse More Resources ›

GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
Exclusive discounts on ALM and GlobeSt events.
Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now

Copyright © 2024 ALM Global, LLC. All Rights Reserved.