Bascom Arizona Ventures adds Off-Market Tucson Multifamily Property
Valued at $45.5 million, the 289-unit garden-style community adds Tucson multifamily density for a platform focused on transitional Southwest apartment assets.
Domain 3201, a 289-unit garden-style apartment community in Tucson, Arizona, was acquired by Bascom Arizona Ventures, LLC for $45.5 million, or $157,439.
The property spans nearly 12.5 acres and includes one-, two- and three-bedroom units, three pools, two spas, open green space, a fitness center, yoga studio, clubhouse, business center and two pickleball courts.
Backed by The Bascom Group, LLC, the venture targets transitional multifamily assets in the southwestern United States and has completed more than $1.6 billion across 54 Arizona properties since 2004.
BrightSpire Capital Acquisitions, LLC provided debt financing, arranged by Brian Eisendrath, Cameron Chalfant, Ben Margolis and Jesse Zarouk of Institutional Property Advisors.
Hamid Panahi, Clint Wadlund, Steve Gebing and Cliff David of Institutional Property Advisors advised both sides in the off-market transaction, and Bryten Real Estate Partners will manage the property.