A joint venture between Bascom Arizona Adventures and Rockwood Capital has purchased a 196-unit apartment community in Phoenix, Ariz.

The value of the transaction was $10.8 million.

The property, Sunrise Village, was built in 1984 and is located at 5020 West Thunderbird Road. The 7.7-acre property features a heated swimming pool and spa, a play court, a clubhouse and fitness center, laundry facilities, a lighted basketball court, and a children’s play area. The apartment community is comprised of 15 residential buildings featuring two floor plans, 675sf one bedroom units and 940sf two bedroom units.

Anaheim, Calif.-based Commercial Services Building Inc. will be providing renovation work for Sunrise Village.

Irvine, Calif.-based Bascom is an active buyer of multifamily communities throughout Arizona, California, Hawaii 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