Bascom, GE Capital expand in Arizona

Joint venture makes another multifamily purchase

A joint venture between Bascom Arizona Ventures and Connecticut-based GE Capital has purchased the 286-unit Northern Landing Apartment community in Phoenix, Ariz. The value of the transaction was $13.7 million. The property, located at 8135 North 35th Ave., was constructed in 1982. The 10-acre property features two swimming pools, two spas, covered parking, two laundries and BBQ areas. The community is comprised of 15 two-story residential buildings. Northern Landing's 286 apartment homes consist of two floor plans: a 625-square-foot, one-bedroom/one-bath unit and an 875-square-foot, two-bedroom/two-bath unit. *** What's your opinion? Send your Letter to the Editor to