The Bascom Group LLC on Wednesday purchased the recently foreclosed Highland Orchard apartment community in Conyers, Ga., for approximately $5.6 million.

The property, located at 1190 Millcrest Walk, is a 182-unit, two-story complex located on a 21-acre site. Constructed in 1984, the property has a total rentable floor area of 191,310 and features a swimming pool, playground areas, on-site carwash, and mature landscaping. The property is comprised of 133 two-bedroom/two-bathroom units (which accounts for 73 percent of the unit mix) and 49 two-bedroom/one-bathroom units (which accounts for 27 percent of the unit mix). Unit sizes range from 1,000 to 1,070 square feet with an average of 1,052 square feet.

A private equity fund sold the property after foreclosing on it.

Bascom is a private equity firm based in Orange County, Calif., and has acquired more than 33,000 units at more than 134 properties.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top