Bascom Nabs Denver-Area M-F for $32M
- Nov 26, 2008
The Bascom Group L.L.C. has acquired a 320-unit Class A apartment community in the Denver suburb of Aurora, Colo., in a $32.2 million deal with seller Steadfast Cos. The complex (pictured), known as Saddle Village Apartments, is located on 23 acres in a in the Saddle Rock subdivision of Aurora. The units range from one to three bedrooms, and were built in 2002. The property also features a swimming pool and spa, clubhouse with business center, playground, fitness centers, as well as basketball and volleyball courts. Additionally, Saddle Village is located within walking distance of the 1.7 million-square-foot Southlands Mall, Colorado’s largest retail complex. Also nearby are Denver International Airport, Downtown Denver and Buckley Air Force Base. With Saddle Village under Bascom’s umbrella, the Orange County, Calif,-based firm now owns 20 Denver properties totaling some 7,200 units. Corum Real Estate Group will manage the property on behalf of Bascom. The sale was negotiated by CB Richard Ellis Inc.’s Craig Stack and Steve Rahe, who represented both parties. Jeffrey Fuller and Jay Tanjuan led the acquisition team for Bascom, while debt financing was arranged by Bethany Bailey, Brian Eisendrath, Troy Tegler, Eric Tupler and Mike Easter from CBRE Melody.