DENTON, Tex.--The Timber Links, a 480-unit apartment community located in Denton, has been acquired by the Irvine, Calif.-based The Bascom Group LLC and Los Angeles-based Oaktree Capital Management LP's $250-million venture. The sale closed on January 30.

GE Capital Bank provided financing to acquire the property. The debt financing was sourced by John Brownlee and De'on Collins of HFF and Roberto Casas of HFF represented the seller on the transaction.

“We feel good about our cost basis for a 2004 vintage asset in a growing submarket,” James D. D'Argenio, principal at The Bascom Group, told GlobeSt.com. “We also see the underlying value in the 80 acres underneath the apartments and [nine-hole] golf course that came with the sale.”