The Bascom Group purchased a 344-unit apartment community known as the Woodcreek Apartments in Temecula, Calif.
The value of the transaction was $32.3 million.
The property is located at 42200 Moraga Road. Built in 1987, the apartment community consists of 43 two-story buildings with two- and three-bedroom apartment types with an average size of 880 square feet. Community amenities include two swimming pools, two spas, a tennis court, tot-lot, kid’s pool and onsite laundry facilities.
Woodcreek-Temecula Partners, a Delaware limited partnership, was the seller.
Representing the buyer was Udi Katz of Coldwell Banker Commercial of Temecula.
Irvine, Calif.-based Bascom is an active buyer of multifamily properties throughout California, Hawaii, and the Pacific Northwest.
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