The Bascom Group LLC has acquired a 312-unit apartment community in Sandy Springs, Ga., for $18.7 million, according to a company announcement. This purchase comes on the heels of two multifamily purchases totaling 858 units in nearby Marietta earlier in the month.
The Bascom Group, a private equity firm, bought the Shadow Pines apartment community from Sentinel Real Estate Corp.
The property apartment community sits on 26.2 acres and includes two swimming pools, three lighted tennis courts, a sport court, picnic area with grills, reserved covered parking, and a controlled-access gate.
There are 144 one-bedroom apartments; 48 two-bedroom, one-bath apartments; 92 two-bedroom, two-bath apartments; 16 three-bedroom, two-bath apartments; and 12 three-bedroom, two-bath villas at Shadow Pines.
Bascom is a private equity firm based in Orange County, Calif., and has acquired more than 33,000 units at more than 134 properties.