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.
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