The Bascom Group has raised $61 million to date for its Bascom Value Added Apartment Investors V, according to a recent Form D filing with the SEC. The fund is seeking to raise $100 million. The initial fundraise included commitments from 220 investors.
Bascom sources value-add multifamily properties varying in unit size and class type. Investment opportunities are identified in established, supply-constrained, infill areas with high barriers to entry. Geographic markets that are lifestyle destinations with growing populations and diverse economic job centers are targeted. Bascom’s goal is to improve asset quality and reach the level of similar properties within the submarket.
The firm’s preferred markets include Arizona, California, Colorado, Connecticut, Georgia, Hawaii, Nevada, New York, Oregon, Texas, Utah and Washington.
Bascom has completed more
