openPR Logo
Press release

Bascom Group And Oaktree Acquire 408-unit Class 'a' Garden-style Apartment Community In West Sacramento For $126 Million

01-27-2025 05:18 PM CET | Industry, Real Estate & Construction

Press release from: ABNewswire

Bascom Group And Oaktree Acquire 408-unit Class 'a'

Image: https://www.abnewswire.com/upload/2025/01/39a3bfce0512cc441d68f05fb3c9d849.jpg

Irvine, California - January 27, 2025 - The Bascom Group, LLC, ("Bascom") in partnership with funds managed by Oaktree Capital Management, L.P. ("Oaktree"), has acquired The Strand, a 408-unit newly built institutional quality multifamily community located in the highly desirable submarket of West Sacramento, California. The purchase price was $126,000,000 or $308,824 per unit. Louis Friedel, Clay Akiwenze, and Hank Workman of Berkadia arranged the debt financing for the acquisition. Luke Goodwin and Alex Porter of Walton Street Capital, LLC provided the acquisition loan. The seller was represented by Berkadia's investment sales team led by Jason Parr and Scott MacDonald. Sares Regis will provide property management services.

Built in 2021 by MBK Rental Living, The Strand is a recently built garden-style community with exceptional connectivity to Sacramento's major economic drivers. The property is ideally situated within The Rivers community, a prestigious pocket of West Sacramento with $1m+ homes, river adjacent walking trails, and nearby retail. The Strand residents benefit from a unique combination of suburban living and a short 10-minute commute to the downtown urban core. The Strand's 408 units are complemented by ample surface parking which is extremely rare given the communities proximity to the urban core. The unit mix includes 7% junior one-bedroom, 34% one-bedroom, 51% two-bedroom, and 7% three-bedroom units. The property's most notable amenity offerings include two pools and spas, indoor and outdoor fitness centers, a clubhouse, a dog park, and EV charging stations.

"The acquisition of The Strand is an excellent opportunity to acquire a new construction, low density multifamily asset in a durable market with limited future supply and recent major institutional investment at an attractive in-place yield," said Jim Singleton, SVP/Principal - Acquisitions. "The Strand currently competes with recently constructed suburban multifamily assets due to its high-end finishes, low density, and superior location. Bascom plans to utilize third party professional property management and complete minor upgrades".

The Strand is well positioned to capitalize on favorable market conditions throughout the hold period. New multifamily deliveries in the Sacramento market are projected to significantly decrease and population growth is projected to remain steady. With a durable employment base and relative affordability, the Sacramento MSA attracts companies and individuals seeking a recession resistant environment. In addition to such attractive market conditions, recent and future institutional investment in the area suggests the area is poised for future growth.

Paul Diamond, Senior Principal for Bascom, states "One of the standout advantages of The Strand is its proximity to Sacramento's key economic drivers. Recent institutional investments within a 1.5-mile radius include the Sacramento Kings' Golden 1 Arena, the brand new CalSTRS building, the Sacramento Railyards, Sutter Health Park, and the I Street Bridge replacement project. The Sacramento market continues to demonstrate attractive multifamily fundamentals, and we are excited to strengthen our footprint in one of California's most economically robust regions."

Jared Lazarus, managing director in Oaktree's Real Estate Group, added, "Oaktree is committed to identifying value opportunities and being a source of strategic liquidity to sellers and operators during this period of continued dislocation in the real estate cycle. The Strand acquisition enables Oaktree to leverage its existing vast multifamily platform and expertise to bridge a high-quality, newly delivered asset in a growing market to stabilization with a strong existing partner in Bascom."

The Bascom and Oaktree partnership began in 2014 with the purchase of The Springs, a 320-unit apartment complex in Corona, CA. Over the last ten years, Bascom and Oaktree have acquired 31 multifamily assets totaling 10,118 units and $1.5 billion in project cost across the US. Joe Ferguson, Acquisitions Manager for Bascom added, "We are excited to close another transaction with Oaktree. We feel the timing is right as the rapid increases in interest rates and softening market has resulted in value declines of 20-30% on existing multifamily properties with supply of new construction of apartments dramatically reduced."

About Bascom:

Bascom is a private equity firm specializing in value-added multifamily, commercial, and non-performing loans and real estate related investments and operating companies. Bascom sources value-added and distressed properties including many through foreclosure, bankruptcy, or short sales and repositions them by adding capital improvements, improving revenue, and reducing expenses by realizing operational efficiencies through implementation of institutional-quality property management. Bascom, founded by principals Derek Chen, Jerry Fink, and David Kim, is one of the most active and seasoned buyers and operators of apartment communities in the U.S. Since 1996, Bascom has completed over $22.0 billion in multifamily value-added transactions encompassing 363 multifamily properties and over 90,000 units. Bascom's commercial transaction volume is $5.8 billion in total and amounts to over 23.4 million square feet. Bascom has ranked among the top 50 multifamily owners in the U.S. Bascom's subsidiaries and joint ventures include the Bascom Value Added Apartment Investors, Shubin Nadal Associates, Spirit Bascom Ventures, REDA Bascom Ventures, Bascom Northwest Ventures, Bascom Arizona Ventures, Harbor Associates, Village Partners Ventures, and Realm Group. Bascom's subsidiaries also include Premier Workspaces, one of the largest privately held executive suite, coworking and shared workspace companies in the U.S.

For additional information, please visit bascomgroup.com

About Oaktree:

Oaktree is a leader among global investment managers specializing in alternative investments, with $205 billion in assets under management as of September 30, 2024. The firm emphasizes an opportunistic, value-oriented, and risk-controlled approach to investments in credit, equity, and real estate. The firm has more than 1,200 employees and offices in 23 cities worldwide.

For additional information, please visit Oaktree's website at http://www.oaktreecapital.com/

Media Contact
Company Name: The Bascom Group, LLC
Contact Person: Jim Singleton
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=bascom-group-and-oaktree-acquire-408unit-class-a-gardenstyle-apartment-community-in-west-sacramento-for-126-million]
Address:7 Corporate Park, Suite 100
City: Irvine
State: CA 92606
Country: United States
Website: https://bascomgroup.com/



This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Bascom Group And Oaktree Acquire 408-unit Class 'a' Garden-style Apartment Community In West Sacramento For $126 Million here

News-ID: 3835150 • Views:

More Releases from ABNewswire

Startup Giftful Gems Builds Business Model Around Emotional Connection and Meaningful Gift-Giving Experiences
Startup Giftful Gems Builds Business Model Around Emotional Connection and Meani …
Giftful Gems represents innovative retail approach that prioritizes customer emotional satisfaction over traditional metrics, focusing on products that create joy and strengthen relationships through thoughtful gift-giving. The new online retailer targets consumers seeking alternatives to mass-market options while building business success through genuine care for customer outcomes. The retail industry has traditionally measured success through quantitative metrics like sales volume, inventory turnover, and profit margins, often overlooking the qualitative outcomes that
Joint Pain Rescue Platform Demonstrates How Digital Healthcare Can Prioritize Patient Education Over Profit
09-26-2025 | Sports
ABNewswire
Joint Pain Rescue Platform Demonstrates How Digital Healthcare Can Prioritize Pa …
Joint Pain Rescue showcases innovative healthcare business model that prioritizes patient education and accessibility over traditional profit-driven approaches. The platform's free comprehensive course for joint pain management represents emerging trend toward value-based healthcare information that empowers patients while building sustainable businesses through genuine health outcomes rather than product sales. The healthcare industry has long struggled with tensions between commercial objectives and patient welfare, often resulting in business models that prioritize revenue
Author's Tranquility Press Presents:
Author's Tranquility Press Presents: "Confessions of a Corgi Doodler" - A Whimsi …
Nancy Kondos' Delightful New Book Celebrates the Art of Imperfect Doodles and the Irresistible Charm of Corgis Author's Tranquility Press is thrilled to announce the release of Confessions of a Corgi Doodler [https://www.amazon.com/Confessions-Corgi-Doodler-Nancy-Kondos/dp/1966972717/ref=tmm_pap_swatch_0?_encoding=UTF8&dib_tag=se&dib=eyJ2IjoiMSJ9.nrKIgvSORUypy55MCVfP6A.Y5mWYYbHvQvFWtTL1ag6iD8erODCj3RPU4WsPh-Bvdo&qid=1758212447&sr=1-1], a charming and beautifully illustrated book by author and artist Nancy Kondos. This heartwarming collection invites readers into a world where pens dance freely, lines wobble with personality, and Corgis come to life in the most unexpectedly joyful
Author's Tranquility Press Presents:
Author's Tranquility Press Presents: "A Parent's Guide for Educational Success f …
From choosing the right school and managing seasonal illnesses to nurturing resilience during family changes, this guide offers practical, heartfelt wisdom for raising confident, well-rounded learners. Author's Tranquility Press is proud to announce the release of A Parent's Guide for Educational Success for Their Children [https://www.amazon.com/Parents-Guide-Educational-Success-Children-ebook/dp/B09VDKQ61G/ref=monarch_sidesheet_image] by Joann Falciani-a deeply insightful, compassionate, and immensely practical resource for parents navigating the often-overwhelming journey of their child's education. Packed with real-world advice, actionable strategies,

All 5 Releases


More Releases for Bascom

The Bascom Group Launches New 506(C) Fund Offering Targeting Value-add & Distres …
Image: https://www.abnewswire.com/upload/2025/03/013904bdc3c66063dbc7711ba9a20bce.jpg Irvine, CA - March 25, 2025 - Bascom Value Added Apartment Investors VI, LLC ("Fund VI" or the "Fund"), which is sponsored by The Bascom Group, LLC ("Bascom"), launched a new offering of its securities pursuant to Rule 506(c) under the Securities Act of 1933, as amended. Fund VI is focused on continuing to acquire apartment properties throughout the U.S. that can be repositioned through value-add renovations, management improvements,
Bascom Group Hires Lee & Associates To Market Prime Downtown Long Beach Ground F …
Image: https://www.abnewswire.com/upload/2025/03/f92cd37e449d63f0c8439aeab2a65d5c.jpg Irvine, California - March 24, 2025 - The Bascom Group, LLC has retained industry veterans Noel Aguirre and Sean Lieppman of Lee & Associates to market and lease a 4,100 square feet ground floor space at 200 Pine Avenue in Long Beach, California. Ideally located in the prime downtown area, the space features an adjoining 3,865 square feet lower-level space. This retail and restaurant space with patio capability is
The Bascom Group Launches New 506c Fund Offering Targeting $500 Million In Value …
Image: https://www.abnewswire.com/upload/2025/03/d0f6b5bfc24261b16e292c46230e6bc1.jpg Irvine, CA - March 21, 2025 - The Bascom Group, LLC ("Bascom") has launched a new 506C Fund offering that will target $500MM in value-add, discounted, and distressed apartment acquisitions. Bascom Value Added Apartment Investors VI, LLC ("Fund VI"), is Bascom's sixth private investment fund, and is seeded with five multifamily properties acquired at an average 29% discount to peak pricing. Since 1996, Bascom has completed over $22.0 billion
The Bascom Group Acquires 257-unit Value-add Apartment Community In Rancho Palos …
Image: https://www.abnewswire.com/upload/2025/02/47e202fd897fca98a41bbfa470bd2556.jpg Irvine, California - February 28, 2025 - The Bascom Group, LLC ("Bascom") has acquired Highridge Apartments, an irreplaceable 257-unit value-add apartment community in the highly desirable coastal community of Ranchos Palos Verdes, California. The purchase price was $127,000,000 or $494,163 per unit. Annie Rice and Jamie Kline of JLL Capital Markets arranged the debt financing for the acquisition, while AXA Investment Managers US Inc. provided the acquisition loan. The
Agrochemicals Market Growth | Trends, Size & Forecast 2024-2031 | J.M Smucker, M …
Agrochemicals Market report, published by DataM Intelligence, provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. Committed to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Through a combination of qualitative and quantitative research methods, it offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving
Bascom Group Acquires 249-Unit Build to Rent Multifamily Property in Premier Bak …
Image: https://www.abnewswire.com/uploads/a857df176ccf5c6b06bb2f23f7cea733.png Irvine, California - August 29, 2024 - The Bascom Group, LLC ("Bascom") has acquired Old River Place, a 249-unit single family residential-style, build to rent multifamily residential property located in the highly desirable Southwest submarket of Bakersfield, California. The purchase price was $ $56,633,500 or $227,444 per unit. Despite the high-interest rate environment and anemic property sale market, the property marks Bascom's sixth acquisition of 2024 and twenty sixth