Bascom continues Georgia expansion

Closes on second multifamily deal this month
Published on Nov 17, 2006

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. ...

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