The Bascom Group, LLC (“Bascom”) has continued their acquisition spree in Texas acquiring two more apartment communities totaling 602 units. The Spencer Park Row is 390 units located near Katy in west Houston. Tranquility Lakeside is 212 units located in the city of Pearland. These acquisitions mark Bascom’s 38th multifamily property closed in Texas.
Clint Duncan and Matt Phillips of CBRE represented the seller in the transaction. Oaktree Real Estate Debt Fund III, LLC provided the debt financing for the acquisition and was arranged by Michael Thompson and Travis Fincher from CBRE. SD Cap will provide construction management and Stonemark Management will provide property management. James D’Argenio and Chang Liu sourced and managed the acquisition for Bascom.