{{titleBar.title}}

​McKINNEY – Bascom Group LLC recently purchased the Orchid Apartments for $20.4 million, or $78,461 per unit.​​

Built in 1997, the 260-unit property at 2700 N. Brook Dr. consists of 24 two-story buildings and a stand-alone leasing center on 20 acres. Twenty-five percent of the units have one bedroom; the rest have two. They average 873 sf.

The transaction was brokered by Sperry Van Ness.​ Debt financing from EastWest Bank was arranged by HFF. 

The seller was the original developer. Bascom will focus on value-add capital improvements to the property.