Bascom Arizona Ventures (BAZV), a subsidiary of Irvine, Calif.-based private equity firm The Bascom Group (Bascom), has acquired Domain 3201, a 289-unit multifamily property located in Tucson, Ariz., for $45.5 million or $157,439 per unit.
BrightSpire Capital Acquisitions provided debt financing, which was arranged by Institutional Property Advisors (IPA), for the acquisition. IPA advised the buyer and seller in the off-market transaction. Arizona-based property manager Bryten Real Estate Partners will manage the property.
Constructed in two phases in 1985 and 1990, the garden-style property offers resort-style living in one of Tucson’s submarkets. Positioned near Interstate 10, Domain 3201 provides access to employment centers, premier shopping, dining and entertaining destinations, including Tucson’s first high-density urban village, Uptown, a five-minute drive away. The property offers residents one-, two- and three-bedroom floor plans and amenities that feature
