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Title: Bascom Group Begins 2024 By Acquiring 344-Unit  Multifamily Property In New Mexico

  United States, 18th Jan 2024, King NewsWire - The Bascom Group, LLC (“Bascom”) has acquired the Overlook Apartments, a 1988 built, 344-unit garden-style multifamily property located at 6200 Eubank Boulevard in Albuquerque, New Mexico. The property marks Bascom’s first multifamily acquisition in the state of New Mexico. Brandon Harrington and Tyler Woodard of Northmarq arranged the debt financing for the acquisition with TPG Real Estate Finance Trust (NYSE: TRTX) as the lender. The seller was represented by Northmarq’s investment sales team lead by Trevor Koskovich, Jesse Hudson, Cynthia Meister, Ryan Boyle, and Logan Baca. Apartment Management Consultants will provide property management services and SD-CAP will provide construction management.The purchase of Overlook comes on the heels of the recent Bascom purchases including Avenida Lakewood, a 230-unit Active Adult (55+) apartment community in Lakewood, Colorado, and Texan26, a 204-bed student community in Austin, TX.   Vice President of Bascom, Tom Gilfillan, states “The Overlook adds another well-positioned asset to the Bascom portfolio, and the first in the state of New Mexico. The property is located within a desirable infill location with scarce new housing supply, and offers residents proximity to nearby employment centers, outstanding school choices, popular retail amenities, and numerous recreation options. The Albuquerque market continues to demonstrate attractive multifamily fundamentals, and we are excited to strengthen our footprint in this growing market.”Located within the desirable Northeast Heights submarket of Albuquerque, The Overlook offers residents a low -density garden style community with an attractive unit mix of one- and two-bedroom units. Community amenities i...

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