Search
 

Spirit Bascom Buys Rockland County MF Property for $33M

POMONA, NY-The purchase is the company's second such transaction for the firm after a recent acquisition in Connecticut, GlobeSt.com has learned EXCLUSIVELY.

By Rayna Katz | Updated on December 17, 2013

POMONA, NY-Spirit Bascom Ventures, a joint venture between New York City based Spirit Investment Partners and Irvine, CA based the Bascom Group has acquired the Avalon Crystal Hill apartments here for $33 million, GlobeSt.com has learned EXCLUSIVELY. The Class A apartment community, located 45 minutes north of midtown Manhattan, contains 169 units, as well as a large clubhouse, fitness center and pool area. The seller was Avalon Bay Communities.

The property was marketed on behalf of Avalon Bay by Mark Dellilo, founding member and managing partner, and Jeff Bastow, managing director at BlueGate Partners‘. Spirit Bascom represented itself in the deal. This purchase represents the second multifamily transaction for Spirit Bascom, which recently closed on the Jefferson at 55/77 Water, located in historic South Norwalk, CT, for $43.3 million.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.