Bascom Arizona Ventures added another property to its Arizona portfolio, acquiring the 37-unit Dolce Villaggio Townhomes from a local private owner. The Bascom Group LLC subsidiary paid $11.5 million for the property at 1065 W. 2^nd St. in Tempe, AZ. The buy follows Bascom’s 2019 acquisition of Tempo at McClintock Station Apartments, near Arizona State University.

Dolce Villaggio is also within walking distance of ASU, as well as Tempe Town Lake and employment centers. The 13-year-old property offers two and three-bedroom units, a swimming pool and attached two-car garages. The new owner is planning upgrades to the pool area and interior units.

Comerica Bank provided debt financing, which was arranged by Erich Pryor of Talonvest Capital Inc., for the acquisition. Chris Roach, Matt Roach, and Brad Cooke of Colliers International brokered the transaction. Arizona-based MEB Management Services will manage the property.

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