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MARIETTA, GA-Irvine, CA-based Bascom Group continues its acquisition campaign in the Atlanta region, getting the 207-unit Autumn Chase apartment for $11.4 million or $55,072 per unit.

The seller of the 2650 Bentley Rd. property was Manulife Financial, which was represented by Steve Griffin of Cushman & Wakefield of Georgia Inc. Debt and equity financing was arranged by Brian Eisendrath, Robert LaChapelle, Matthew Forgione and Troy Tegeler with CBRE/Melody. RAM Partners will provide property management. Bascom’s team consisted of Chad Sanderson, Jeffrey Fuller and Erich Pryor.

Constructed in 1973, Autumn Chase sits on 17.31 acres. It has 63 two-bedroom units with 1.5 bathrooms; 120 two-bedroom, two-bath apartments; and 24 three-bedroom, 2.5-bath floor plans. Units range from 1,200 sf to 2,000 sf, with the average factoring out to 1,361 sf. The monthly rents range from $765 to $985.

Among reasons Bascom acquired the property is its location, one half-mile from the heavily traveled Delk Road-Interstate 75 interchange. The property also is located a short distance from Interstate 285 and US Highway 41. Major employers in the area include Dobbins Air Force Base, Coca-Cola, AT&T, IBM and Lockheed Martin Aeronautics.

Autumn Chase is Bascom’s fourth acquisition in the Atlanta area in the past few months. The company also acquired the 654-unit Crescent at Windy Hill apartment complex in Marietta for $21.4 million or $32,722 per unit; 218-unit Highland South Apartments community in Jonesboro for $7.5 million or $34,404 per unit; the 320-unit Copper Mill community in Norcross for $11.15 million or $34,843 per unit. The acquisition campaign is not over. It hopes to acquire two other multifamily assets in the area by the end of the year.

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