Bascom Targets $500M of Multifamily Acquisitions, via Discretionary Fund

The Bascom Group, LLC, has closed its fifth fully discretionary multifamily real estate investment fund, raising equity commitments to $150 million – combined with leverage, the buying power of $500 million.

To date, Bascom has acquired 13 apartment communities – totaling $460 million in cost –  including Dolce Villagio Townhomes, in Tempe, Ariz. (pictured), as well as other sites in Arizona, Texas, Nevada, Illinois and California.

“Our goal is to have Fund V fully invested this year,” said Jerry Fink, Managing Partner of Bascom, in a news release. “Our discretionary Fund V structure allows us to not only be disciplined buyers, but to close quickly when we identify attractive investment opportunities. A number of the acquisitions were acquired off-market, avoiding the highly competitive bidding process.”

The fund, known as Bascom Value Added Apartment Investors V, LLC, is designed to acquire “value add, distressed, and opportunistic multifamily properties between $10 million and $90 million,” according to Chad Sanderson, principal at Bascom.