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Bascom Continues Georgia Spree With $18M-Plus Buy

ATLANTA-Built in 1980, Sentinel Real Estate Corp. sells Shadow Pines for $59,936 per unit. It is the fourth area multifamily asset Bascom has acquired in the past month.

By Melissa Kress | Updated on December 26, 2006

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

ATLANTA-Adding 312 units to its stable of metro area assets, the Bascom Group has paid $18.7 million for Shadow Pines. Sentinel Real Estate Corp. was the seller of the multifamily asset.

The property at 1067 Pitts Rd, in Sandy Springs traded for $59,936 per unit. It consists of 144 one-bedroom, 48 two-bedroom/one-bath, 92 two-bedroom/two-bath, 16 three-bedroom/two-bath apartments, and 12 three-bedroom, two-bath villas. The apartments range from 718 sf to 1,494 sf, with an 878-sf average. Monthly rents range from $660 to $1,060, according to Bascom officials.

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