Bascom Arizona Ventures (BAZV), an affiliate of Irvine, Calif.–based private equity firm The Bascom Group, has acquired the Retreat at Speedway, a 304-unit multifamily property located in Tucson, Ariz., for $53.4 million or $175,658 per unit. The property was acquired by Bascom's current fund offering, Bascom Value Added Apartment Investors VI.
Constructed in 2001 and positioned along Speedway Boulevard against the backdrop of the picturesque Catalina Mountains, The Retreat at Speedway benefits from proximity to the premier Catalina Foothills and access to major employment centers. The two-story, garden-style property offers residents spacious, open-concept one- and two-bedroom floor plans and a strong amenity package featuring a swimming pool and spa, fitness center and clubhouse.
The Retreat at Speedway presents a compelling value-add opportunity, with new ownership planning a thoughtful capital improvement program designed to elevate everyday living through refres
