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Bascom Adds to MF Portfolio

Irvine, CA-based The Bascom Group acquired Laurel Tree, a 36-unit apartment community in Fontana, CA for nearly $5.3 million. The sale represents a price of $145,833 per unit, or $160.71 per square foot.

Built in 1989, the more than 2.5-acre property offers residents a low-density living community in a central Inland Empire location, with easy access to key employment centers. The property’s unit mix is dominated by spacious three bedroom units, offering a single-family type floor plan unique to the submarket.

Marcus & Millichap’s Reza Ghaffari and Brendon Guichet represented both the buyer and undisclosed private investor in the transaction. Manufacturer’s Bank provided the new loan. James D’Argenio sourced and managed the transaction for Bascom.

D’Argenio notes, “With 80% three bedroom units onsite, Laurel Tree is well positioned to attract young professionals and families seeking quality, rental housing.”

For comments, questions or concerns, please contact Dennis Kaiser


Inside The Story

Read more at MultifamilyBizConnect With Bascom GroupConnect With Marcus & Millichap’s Ghaffari

About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition
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