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SAN ANTONIO-The Bascom Group LLC has acquired the 360-unit Retreat at Canyon Springs through a receivership sale. The Irvine, CA-based buyer purchased the class A apartment community for an undisclosed amount. However, local experts note that similar assets without any distress trade for $80,000 to $100,000 per unit.

The Retreat at Canyon Springs was owned MBS Cos. The Metairie, LA-based firm, which owned 65 apartment complexes totaling about 17,000 units in Texas, has several million dollars worth of loans in receivership.

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