Bascom, Rockwood multiply holdings in Arizona

Joint venture buys 320 units

Don't miss the real estate event of the summer
Join 4,000 real estate pros at Connect SF, Aug 7‑11, 2017

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.

***

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