Irvine CA based Bascom Group acquired the 260-unit multifamily community located in the city of McKinney, Texas.
About the property:
Built in 1997, the property consists of 24 two-story residential buildings and one stand-alone leasing center spread across 20 acres. The unit mix is comprised of 25% one bedroom units and 75% two bedroom units averaging 873 square feet. The seller was also the original developer.
Community amenities include a clubhouse, small fitness center, pool, tennis court and ample greenspace.
James D’Argenio is the Principal for Bascom. Jason Hanna is the Senior Vice President of Portfolio Operations for the Texas region.
About the deal
The transaction was brokered by Sperry Van Ness. Debt financing from EastWest Bank was arranged by John Brownlee and De’On Collins of HFF. James D’Argenio sourced and managed the acquisition for Bascom.
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