Bascom expands in Colorado

Purchases multifamily complex

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The Bascom Group LLC acquired Highline Terrace, a 345-unit apartment community in Denver, Colo. The value of the transaction was $17 million. Rockborough Apartments LLC, a Colorado limited liability company, sold the property, which is located at 1090 South Parker Road. Highline Terrace consists of 16 two- and three-story residential buildings. Completed in 1972, Highline Terrace covers more than 17 acres dotted with trees, green belts and amenities including a large clubhouse, an indoor/outdoor heated swimming pool with sun deck area, playground, a fully-equipped fitness center with sauna, and laundry facilities on site. The property features studio units at 465 square feet, one-bedroom/one-bath units from 572 square feet to 705 square feet, and two-bedroom/one-bath units from 766 square feet to 900 square feet. Irvine, Calif.-based Bascom is an active buyer of multifamily properties throughout the western United States, acquiring more than 25,000 units in 114 properties. *** Wha...