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Bascom Value-Add Fund Launches New Securities Offering
Bascom Value Added Apartment Investors VI, LLC, sponsored by Irvine-based The Bascom Group, LLC, launched a new offering of its securities under Rule 506(c) of the Securities Act of 1933. Fund VI is focused on continuing to acquire apartment properties throughout the U.S. that can be repositioned or may be trading at a significant discount.
The fund currently owns five apartment properties with approximately $68 million of equity invested and is seeking to raise an additional approximately $76 million in equity with this offering. Since 1996, Bascom has completed more than $22 billion in multifamily value-added transactions.
Managing partner David Kim said, “We note that certain leading real estate research firms report that apartment prices have dropped 20%–30% from their 2022 peak due to capital market dislocations, rising interest rates, and oversupply in certain markets. We believe this has created opportunities to acquire properties at a discount to peak pricing.”
- ◦Sale/Acquisition
- ◦Financing
