Bascom, GE Capital expand in Arizona
Joint venture makes another multifamily purchase
By Inman News, Tuesday, January 3, 2006.A joint venture between Bascom Arizona Ventures and Connecticut-based GE Capital has purchased the 286-unit Northern Landing Apartment community in Phoenix, Ariz.
The value of the transaction was $13.7 million.
The property, located at 8135 North 35th Ave., was constructed in 1982. The 10-acre property features two swimming pools, two spas, covered parking, two laundries and BBQ areas.
The community is comprised of 15 two-story residential buildings. Northern Landing's 286 apartment homes consist of two floor plans: a 625-square-foot, one-bedroom/one-bath unit and an 875-square-foot, two-bedroom/two-bath unit.
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