Bascom Arizona Ventures, in a joint venture with Rockwood Capital, purchased Chandler Place Apartments, a 320-unit community in Chandler, Ariz.

The value of the transaction was $22.4 million.

Chandler Place, built in 1996 on nearly 20 acres, features three swimming pools and spas, a BBQ area and playground, a clubhouse, a business center, and a fitness center. The community is comprised of 29 two-story residential buildings. Apartments consist of four different floor plans ranging from 790-square-foot one-bedroom units up to the 1,275-square-foot three-bedroom/two-bath units.

Anaheim, Calif.-based Commercial Services Building Inc. will be providing the renovation work for Chandler Place.

Irvine, Calif.-based Bascom is an active buyer of multifamily properties throughout Arizona, California, Hawaii and the Pacific Northwest.

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