(To read more on the multifamily market, click here.)
AURORA, CO-The Bascom Group LLC of Irvine, CA paid $5 millionfor the 112-unit Park East apartment community at 456 S. IrontonSt. here. The purchase price equates to $44,643 per sf.
The property was privately owned and operated by Park East, LLC.Bascom, founded in 1996, is also a private equity firm. Bascom'sapartment program typically seeks value-added properties andrepositions them by adding extensive capital improvements,increasing rents, reducing expenses and implementinginstitutional-quality property management.
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