The Bascom Group bought The Palms of Kilani, a 106-unit apartment community in Wahiawa, Hawaii.
The value of the transaction was $9.1 million.
Fowler & Flanagan Garden Club Associates LLC was the seller of the property, which is located at 1060 Kilani Ave. Built in 1973, the apartment community consists of four 4-story buildings spread out over 3.1 acres, with two-, three- and four-bedroom apartments with an average size of 841 square feet.
The new ownership plans improvements to the property, including upgraded unit interiors, building exteriors and landscaping. Honolulu-based Marcus & Associates Inc. will be providing construction management services, while California-based Commercial Services Building will participate in an advisory role.
Irvine, Calif.-based The Bascom Group is an active buyer of multifamily properties throughout Southern California, the Central Valley and Hawaii.
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