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Bascom Adds to Atlanta Stable With 236-Unit Buy

SANDY SPRINGS, GA-The Bascom Group acquires the 90%-occupied Hampton Hill apartments with plans to make improvements.

By Natalie Keith | Updated on March 05, 2008

SANDY SPRINGS, GA-The Irvine, CA-based Bascom Group has acquired the 236-unit Hampton Hill apartment complex at 7889 Roswell Rd. The acquisition price was not released but in November, Irvine, CA-based Aslan Realty Group acquired the 760-unit Commons Apartments at 7600 Roswell Rd. in Sandy Springs for $60.25 million, or about $79,000 per unit, as GlobeSt.com previously reported.

Constructed in two phases in 1985 and 1986, the property sits on a 19.7-acre site and has a total rentable floor area of 242,986 sf. The complex has one- and two-bedroom units with balconies and patios and washer/dryer connections. Common area amenities include a swimming pool with sundeck, tennis courts, health and fitness center, clubroom with kitchen facilities, playground and car care center.

Chad Sanderson, Nicholas Genesta and Josh Needle handled the transaction for Bascom. Debt financing was arranged by Robert LaChapell, Matthew Forgione, Troy Tegeler and Brian Eisendrath of CBRE Melody. Worthing Southeast Corp. will serve as property managers.

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