The Bascom Group LLC continued its growth in the Southeast with the purchase of Highland South Apartments, a 218-unit apartment community in Jonesboro, Ga.
The value of the transaction was $7.5 million, or $34,404 per unit.
Highland South, located at 221 Upper Riverdale Road, features 168 two-bedroom/two-bath apartments and 50 three-bedroom/two-and-a-half-bath apartments. Unit sizes range from 1,200 square feet to 1,500 square feet.
PAMI Highland South LLC sold the community, which was constructed in 1972 and includes a swimming pool and playground.
Bascom purchased a 320-unit apartment complex earlier in the month in Norcross, Ga., for approximately $11.2 million.
Irvine, Calif.-based Bascom is an active buyer of multifamily properties throughout the western and southern United States.