Bascom Picks Up Emeryville Apartments
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The Bascom Group and funds managed by Carlyle Realty just bought Bridgecourt Apartments, a 220-unit complex. The $45.1M sale also includes five ground-floor retail spaces. Bridgecourt was constructed in 1998 and is located at 1325 40th St. Bascom principal Chad Sanderson says the property is well located with access to job centers, local retail and public transportation. The company plans to update unit interiors and property amenities, include adding washers and dryers in the units, modern lighting and new kitchen appliances. Colliers' Stephen Jackson and Mark Feldman brokered the deal, and Brian Eisendrath, Brandon Smith and Annie Rice of CBRE Capital Markets arranged a $40.6M loan with California Bank & Trust.