
Bascom Arizona Ventures Makes Another Big AZ Buy
A joint venture of Bascom Arizona Ventures and Pacific Life Insurance Company acquired two luxury apartment communities totaling 724 units for $148 million… or $204,420 per unit. Located in the highly desirable Kierland master-planned community of North Scottsdale, the assets include Legend at Kierland and Tradition at Kierland.
Quadrant Real Estate Advisors LLC provided debt financing, which was arranged by CBRE’s Brian Eisendrath, Brandon Smith and Annie Rice. Lincoln Group of Companies’ James Reed advised the buyer and seller in the transactions.
The Scottsdale purchases come on the heels of Bascom Arizona Ventures’ recent $70.2-million, 812-unit portfolio acquisition of three apartment communities located in Tucson and Sierra Vista, AZ.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition