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$20M Equity Pool Reaches Limit; Time to Rest

DALLAS-Pacific Coast Capital Partners and Bascom Group close out a $20-million equity pool used to buy 1,887 units in Texas in the past year. The JV says now it's up to the market.

By Connie Gore | Updated on January 30, 2008

DALLAS-Pacific Coast Capital Partners LLC and the Bascom Group LLC have closed out a $20-million equity pool earmarked for Texas. In a 12-month buying spree, the backing has been used to acquire 1,887 units, with four of the five complexes situated in Dallas.

“It was a one-off pool at this point,” Ryan Akins, Bascom’s point man, tells GlobeSt.com. “It was a very good experience on both sides.”

Pacific Coast and the Irvine, CA-based Bascom also have a $20-million equity pool dedicated to Southern California and an $18.5-million fund targeting Atlanta. In addition, Pacific Coast has other joint venture partners in Dallas, where it now owns 3,500 units, and 500 apartments in Round Rock near Austin. Its 200 units in Houston are part of the Bascom pool.

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