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Bascom NW Adds to Local Portfolio

SEATTLE-A recent 201-unit, $19.5-million acquisition takes the San Francisco-based apartment investor's area portfolio to 2,480 units.

By Brian K. Miller | Updated on August 15, 2006

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

SEATTLE-Bascom Northwest Ventures LLC has acquired the 201-unit Villa D’ Italia Apartments here for $19.5 million. The seller was Razore Enterprises Inc. (formerly Lanes Corp.) and MCW LLC. The price translates to $97,015 per unit and $108 per sf.

The property is located at 10500 North Meridian Ave., several miles north of Downtown Seattle in the Northgate neighborhood. The development sits across Interstate 5 from the one-million-sf Northgate Shopping Center. Pinnacle Management has been retained to manage the property.

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