TALLAHASSEE, FL—A $250-million venture launched recently byThe Bascom Group, LLC and funds managed byOaktree Capital Management, LP has acquired the444-unit The Reserve at Heritage Oaks apartmentcommunity here.
The deal closed on July 31 with CIT Bankproviding debt financing for the property acquisition. The debtfinancing was sourced by Andrew Feinberg,David Harte, and Marc Schulder ofAckman-Ziff. Matt Wilcox ofARA represented the seller on the transaction. Nofinancial terms of the purchase were announced.
This is the third multifamily acquisition recently closed by theBascom/Oaktree venture, which launched with the purchase of TheSprings Apartments, a 320-unit garden style community in Corona, CAon June 24. The venture also acquired The Edge at Traverse Point, a296-unit garden style community in Henderson, NV on July 24.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
