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Bascom, Artemis Partnership Buys Fresno MF for $35M
The Bascom Group, LLC in partnership with Artemis Real Estate Partners, acquired Phoenix Townhomes, a 248-unit condominium-style apartment community in Fresno, CA for $35 million, or $141,129-per-unit. The property was constructed in 2004, and is located at 5355 North Valentine Ave. in the Northern Fresno submarket,
Bascom’s Jim Singleton says, “Phoenix Townhomes is an extremely well-located property with convenient access to strong employment centers, schools, and numerous retail and entertainment options.”
SVN/MJM & Associates, Inc.’s Mark Mimms brokered the transaction.
Bascom’s Lee Nguyen added, “The tremendous value-add potential, exceptionally large floorplans and unique two and three-bedroom units offered at Phoenix Townhomes, separate it from other rental properties in the area. We see this purchase as a great opportunity to complete some best-in-class improvements to the property, while still offering our residents an attractive and affordable place to live.”
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- ◦Sale/Acquisition




