Bascom Sells AZ Multifamily for $47M

The Bascom Group of Irvine, CA has sold the 352-unit Fairways, a class A apartment complex in Chandler, AZ. Virtu Investments LLC, based in Larkspur, CA paid the seller $47 million for the property.

The 95%-occupied Fairways, located at 777 W. Chandler Blvd., was built in two phases in 1986 and 1996. The property is situated on approximately 17.7 acres, and overlooks the San Marcos Golf Course, which opened in 1913.

Cindy Cooke and Brad Cooke of Colliers International’s Phoenix office represented the seller.