Bascom acquires 20-acre residential property

McKINNEY – The Bascom Group has purchased a 260-unit multifamily community.

Built in 1997, the property consists of 24 two-story residential buildings and one stand-alone leasing center spread across 20 acres. One-quarter of the units have one bedroom; the rest have two. Units average 873 sf.

The seller developed the complex.

Sperry Van Ness brokered the transaction. HFF arranged the debt financing from EastWest Bank.