A joint venture between the Bascom Group and Rockwood Capital purchased a 320-unit apartment community known as the Villa Mirage Apartments in Lancaster, Calif.

The value of the transaction was $25 million.

The property is located at 43230 Gadsden Ave. Built in 1990, the apartment community consists of 40 two-story buildings with one-, two-, and three-bedroom apartments totaling 320 units with an average size of 817 square feet. Current amenities include two swimming pools, a spa, two playgrounds, a fitness center, sports courts and club house. 

The seller of the property was Monte Verde Apartments LP, a California Limited Partnership.

Marcus & Millichap represented both parties in the transaction.

Orange County, Calif.-based Bascom buys multifamily communities throughout California, Hawaii, Arizona, Utah, and the Pacific Northwest.

***

What’s your opinion? Send your Letter to the Editor to opinion@inman.com.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
We're here to help. Free 90-day trial for new subscribers.Click Here ×