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Glendale Multifamily Asset Goes for $40M

PHOENIX—The $250 million venture by The Bascom Group, LLC and funds managed by Oaktree Capital Management, L.P. has acquired Indigo Creek Apartments, a 408-unit luxury community located in Glendale for $40.5 million.

By Kristian Seemeyer | Updated on November 05, 2014

PHOENIX—The $250 million venture by The Bascom Group, LLC and funds managed by Oaktree Capital Management, L.P. has acquired Indigo Creek Apartments, a 408-unit luxury community located in Glendale for $40.5 million. Bascom Arizona Ventures, LLC, an affiliate of The Bascom Group, LLC, acquired the asset with $35 million in debt financing from Los Angeles-based portfolio lender Mesa West Capital.  

Brian Eisendrath, Brandon Smith, and Annie Rice of CBRE arranged the financing for the purchase. Steve Gebing and Cliff David from Marcus & Millichap represented the buyer and seller on this transaction.  The onsite property management will be overseen by Arizona based Morrison, Ekre & Bart Management Services. 

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