Bascom Adds to Colorado MF Trove
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Irvine-based Bascom Group, one of the top 50 multifamily owners in the country, expanded its footprint even further in Colorado recently with the acquisition of the 112-unit Skyline View apartments at 456 S Ironton St in Aurora, a major suburb of Denver. In the last decade, the private equity investor has acquired more than 11,700 units in Colorado. Bascom Group principal Scott McClave tells us that as a multifamily submarket, Aurora’s made a comeback, with regional investments beginning in the '90s now paying off in terms of job creation.
That's especially true for the Lowry and Fitzsimmons redevelopments, which are the reinvention of a former Air Force base and an Army hospital into a mixed-use community and a bioscience business park, respectively. Both are relatively near Aurora. Scott also cites the area’s transit infrastructure as important. "Denver's ahead of a lot of places in transit, and it's helping sustain job growth," he notes.