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Denver Multifamily

Bascom Buys Arvada Apartments for $20M

California investor Bascom Group acquired 7797 W 52nd Ave in Arvada, a 157-unit apartment property, for more than $20M. The complex is roughly two-thirds one-bedroom units and a third one-bedroom units, with median rents for the one-bedroom units at about $1k, an increase of 7% since last year. Occupancy is in the high 90s, according to the buyer. Bascom has been an investor in Colorado multifamily for more than a decade. [DBJ]

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