Bascom, Rockwood bag another Arizona property

Deal includes 461 multifamily units

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A joint venture between Bascom Arizona Ventures LLC and Rockwood Capital Partnership recently purchased a 461-unit apartment community known as the Wyndham Park Apartments in Phoenix, Ariz. The value of the transaction was $13 million. Wyndham Park Apartments, located at 5104 East Van Buren Ave., were built in 1983. The grounds are spread over 12.5 acres featuring a large clubhouse, a heated swimming pool, two Jacuzzis, two tennis courts, a fitness center, sand volleyball courts, sports courts, barbeque grills, jogging and fitness trail, and laundry facilities. The community is comprised of 23 two- and three-story buildings. Additionally there are 90 carports and 467 open parking spaces for a total of 557 parking spaces. These 461 apartment homes consist of four different floor plans that range from 321-square-foot studio units up to the 924-square-foot 2-bedroom/1-bath units. Apartment homes at Wyndham Park include French doors to bedrooms, patios and balconies, and individual forc...