The Irvine, CA-based investment group and equity backer Pacific Coast Capital Partners LLC of Los Angeles have scooped up the 206-unit Oak Tree Apartments at 2877 W. Walnut Hill Lane in Irving and 192-unit Charleston Apartments at 5616 Spring Valley Rd. in North Dallas. Both complexes will be re-branded with new names as part of their three-year repositioning plans.

Bascom's Texas shop often buys in bulk, but the locations were the selling points for the pair of one-offs. The 78%-leased Oak Tree is situated at the edge of Las Colinas and less than two miles from Dallas/Fort Worth International Airport. The 88%-leased Charleston is less than one mile from the Galleria. "We got some great buys and we want to leverage the value-add to drive rents," James Dargenio, the buyer's senior analyst in Dallas, tells GlobeSt.com.

Ryan M. Akins, Bascom's regional director in Dallas, sourced both deals. Jerry Hess, acquisitions manager in Texas, did due diligence and the closing for Oak Tree while Dargenio worked out the Charleston purchase. Pacific Coast's Bill Lindsay and Jed Lassere were part of the bargaining team.