Bascom sells L.A. apartments

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Marcus & Millichap negotiated the sale of Palm Court, a 128-unit multifamily community in Los Angeles. The value of the transaction was $26.6 million. The Bascom Group sold the asset to BRE Properties Inc. Built in 1987, Palm Court is located at 323-333 S. Catalina St. The property offers 122,420 square feet situated on 1.2 acres. The apartment community received interior and exterior renovations in 2003 and consists of one five-story building with one studio unit, 49 one-bedroom and 78 two-bedroom units. Units range from 360 square feet to 1,175 square feet. Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage operating nationwide. *** What's your opinion? Send your Letter to the Editor to