The Irvine, CA-based investment group and equity backer PacificCoast Capital Partners LLC of Los Angeles have scooped up the206-unit Oak Tree Apartments at 2877 W. Walnut Hill Lane in Irvingand 192-unit Charleston Apartments at 5616 Spring Valley Rd. inNorth Dallas. Both complexes will be re-branded with new names aspart of their three-year repositioning plans.

Bascom's Texas shop often buys in bulk, but the locations werethe selling points for the pair of one-offs. The 78%-leased OakTree is situated at the edge of Las Colinas and less than two milesfrom Dallas/Fort Worth International Airport. The 88%-leasedCharleston is less than one mile from the Galleria. "We got somegreat buys and we want to leverage the value-add to drive rents,"James Dargenio, the buyer's senior analyst in Dallas, tellsGlobeSt.com.

Ryan M. Akins, Bascom's regional director in Dallas, sourcedboth deals. Jerry Hess, acquisitions manager in Texas, did duediligence and the closing for Oak Tree while Dargenio worked outthe Charleston purchase. Pacific Coast's Bill Lindsay and JedLassere were part of the bargaining team.