Bascom, Rockwood purchase Arizona apartments

Renovation planned

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Bascom Arizona Ventures, in a joint venture with Rockwood Capital, acquired Club Oasis, a 460-unit apartment complex in Chandler, Ariz. The value of the transaction was approximately $25.8 million. The property, located at 102 West Palomino Drive, was built in 1985. The 19.2-acre site features three swimming pools and spas, a playground, a clubhouse, two laundry facilities, a fitness center and a stand-alone leasing office. The community is comprised of 31 residential buildings. Club Oasis's apartment homes consist of four different floor plans ranging from 600-square-foot, one-bedroom units up to the 927-square-foot, two-bedroom/two-bath units. The seller of the property was not disclosed. Anaheim, Calif.-based Commercial Services Building Inc. will be providing the renovation work for Club Oasis. Irvine, Calif.-based Bascom is an active buyer of multifamily properties throughout Arizona, California, Hawaii and the Pacific Northwest. *** What's your opinion? Send your Letter to...