Bascom Northwest Ventures, LLC closed announce the sale of Tempo at Riverpark Apartments in Oxnard. The 235-unit property was sold by a Bascom-affiliated venture for $105,000,000 to a venture led by Hines.
Located adjacent to The Collection at Riverpark, a shopping center anchored by Whole Fods, REI and Cinemark, Tempo at Riverpark was developed and constructed by the Wolff Company in 2015. Bascom Value Added Apartment Investors Fund IV, an affiliate of The Bascom Group, and a private investment group led by Bascom Northwest purchased the property for $75,250,000 in 2018. Brian Wirtz, managing director of Bascom Northwest, assisted throughout the investment execution process.
Apartment Management Consultants (AMC) managed the community for Bascom over the holding period, which saw Bascom implement $1 million in upgrades. Both AMC and Bascom were represented in the sale by Blake Rogers, Alex Caniglia, and Kip Malo at JLL
The post Bascom Venture Sells Oxnard Apartments to Hines for $105M appeared first on Connect CRE.
​Â