Bascom Group Claims 20-Story Davis Building

DALLAS-The Bascom Group LLC has acquired The Davis Building, a 20-story, mixed-use property situated in downtown’s Main Street District. The property, which includes 183 loft-style apartment units, 52,235 feet of retail space and a 600-space parking garage, was purchased out of receivership for an undisclosed amount.

Built in 1926 as an office building, The Davis Building was converted in 2003 into a mixed-use project. Hamilton Properties spent about $35 million to transform the building, according to local experts. The Dallas-based investor was unable to refinance or restructure its existing $32.6-million CMBS loan, and the property was put into receivership with Omnium Management Co.