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Bascom Picks Up 440-Units for $117,500 Per Door

DENVER-The San Diego-based value-add apartment investor acquires six-year-old complex here from Pauls Corp. for $51.7 million.

By Brian K. Miller | Updated on September 20, 2007

(Read more on the multifamily market.)

DENVER-The Bascom Group has acquired Lakecrest at Gateway Park, a 440-unit complex here that opened in 2001. The San Diego-based value-add apartment investor acquired the complex from Pauls Corp. for $51.7 million. CBRE Melody arranged debt and equity financing from Prudential Mortgage Co. and Pacific Coast Capital Partners. Apartment Realty Advisors brokered the transaction, which closed Thursday.

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