Denton 480-unit The Timber Links green with sale

DENTON – The Timber Links, a 480-unit apartment community at 5201 Par Dr., has been purchased by The Bascom Group LLC and Oaktree Capital Management.

Built in 2004, Timber Links consists of 41 buildings on 58.9 acres. The asset is comprised of 33 percent one-bedroom units and 67 percent two-bedroom units.

Timber Links is nearby The University of North Texas, Texas Women’s University and the Denton Regional Medical Center.

“Timber Links is a high-quality community…We have a renovation planned for the property that will allow it to compete with other best-in-class assets,” says Tony Ferrell, director of portfolio operations for The Bascom Group.

“We feel good about our cost basis for a 2004 vintage asset in a growing submarket,” James D. D’Argenio, principal at The Bascom Group. “We also see the underlying value in the 80 acres underneath the apartments and [nine-hole] golf course that came with the sale.”