The Bascom Group has acquired Highridge Apartments, a 257-unit value-add apartment community in Ranchos Palos Verdes. The purchase price was $127,000,000 or $494,163 per unit.

Annie Rice and Jamie Kline of JLL Capital Markets arranged the debt financing for the acquisition, while AXA Investment Managers US Inc. provided the acquisition loan. The JLL Investment Sales team led by Blake Rogers and Kevin Sheehan represented the undisclosed seller of the 1972-vintage property. AMC will provide property management services for the community and SD-Cap will manage the planned property renovations.

Those renovations are intended to further elevate the property by renovating unit interiors to a Class A standard and enhancing amenities for a more resort-style living experience. “Few opportunities of scale ever arise in coastal Southern California, and nearly none in Rancho Palos Verdes.” said Joe Ferguson, acquisitions manager for Bascom. “We are excited to convert on this truly generational opportunity.”

OC Lifetime Achievement Award: Johnson Capital Advisors’ Founder & CEO, now Principal Emeritus, Guy Johnson, will receive the Connect CRE Lifetime Achievement Award at Connect Orange County on Thursday, March 20th. Register to attend sit in on a very special Keynote Conversation between Guy and presenters from Matthews REIS, Red Oak Capital Holdings, and more, who have worked with Guy throughout his career. www.ConnectOC2025.com