The Bascom Group, LLC (“Bascom”) has acquired a two-property, 140-unit multifamily portfolio located in the Northridge neighborhood of the City of Los Angeles. The properties, NMS Northridge and NMS Superior, boast large floorplans consisting of mostly two- and three-bedrooms with each unit receiving a private 2-car garage or two spaces of structured parking. The properties are centrally located within the San Fernando Valley and sit adjacent to California State University – Northridge (“CSUN“). CSUN has an enrollment of 38,000 students and provides significant resident demand. Bascom purchased the 140-unit property for $52,500,000, or $375,000 per unit. Brightspire Capital (fka Colony Capital) provided the debt financing for the acquisition and was arranged by Mark Strauss and Rob Quarton of Walker Dunlop Capital Markets. Apartment Management Consultants (AMC) will provide property management services.
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