Search
 

Bascom Pays $17M for Highline Terrace

DENVER-California-based Bascom Group pays $17 million for an apartment development in Southeast Denver. The sales price is close to the assessed valuation of the property, according to public documents obtained by GlobeSt.com.

By John Rebchook | Updated on January 05, 2006

(To read more on the multifamily market, click here.)

DENVER-The Bascom Group LLC, based in Irvine, CA, recently paid $17 million, or $49,275 per unit, for the 345-unit Highline Terrace apartment community at 1090 S. Parker Rd. The sales price is close to the assessed valuation of the property, according to public documents obtained by GlobeSt.com. For tax purposes, the value of the property is assessed at approximately $16.7 million, records show.

The seller was Rockborough Apartments, LLC, a Colorado limited liability company. Debt financing was provided by Wells Fargo Bank and was arranged by Troy Tegler of CBRE LJ Melody. Omni Apartments Communities Inc. will be providing property management services. The acquisition for Bascom was overseen by Scott McClave, principal of acquisitions and finance.

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?

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.

GlobeSt

Join 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
Join GlobeSt

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