The Bascom Group recently acquired a 234-unit apartment community known as the Stonegate Village Apartments in Chandler, Ariz.

The value of the transaction was $18.9 million.

The property, located at 2225 West Frye Road, was in bankruptcy and the sale closed on May 28, 2004.

Texas-based Unity Enterprises Properties developed the property in 1999. The grounds are spread over 18.3 scenic acres, featuring a clubhouse fully equipped with a resident lounge, business and conference-room center, two swimming pools with spas, and fitness center. The community is comprised of 15 two- and three-story buildings, a clubhouse, barbecue areas and a playground. These 234 high-end apartment homes consist of eight different floor plans that range from the 729-square-foot 1-bedroom/1-bath units up to the 1,358-square-foot 3-bedroom/2-bath units.

The seller of property was Stonegate Village Chandler Place Holdings LLC.

Brad Goff and Bobby Bull of Phoenix, Ariz.-based Trammell Crow Co. represented the buyer and the seller.

Irvine, Calif.-based Bascom has been an active buyer of multifamily throughout Southern California, Central California, and Hawaii over the past seven years.


What’s your opinion? Send your Letter to the Editor to

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top
Use code JULY4 at checkout & save $50 on your Connect Now Bundle!Get the deal×