The Bascom Group has acquired two adjacent apartment properties in Colorado Springs with its affiliate The Axton Group. The acquisition included Summer Grove Apartments and Tanglewood Apartment Homes, purchased for a total of $41.25 million.

Summer Grove is a 374-unit community and was acquired for $31 million or $82,887 per unit. Tanglewood is a 112-unit community and was purchased for $10,150,000, or $90,625 per unit.

Jake Young at CBRE brokered the transaction. Brian Eisendrath and Annie Rice at CBRE arranged the debt financing with Don Broderick and Erik Frandsen at TCF Bank.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.