Bascom keeps pushing…adds to multi-family holdings with 352 units in Chandler

Chandler – A company formed by Bascom Arizona Ventures LLC paid $35.215+ million ($100,044 per unit) to buy The Fairways, a 352-unit multi-family community located at 777 W. Chandler Boulevard in Chandler. The seller was the registered holders of Wachovia Bank Commercial Mortgage Trust Commercial Mortgage Pass-Through Certificates Series 2006-C29. The special servicer for the commercial mortgage backed security (CMBS) was Situs Holdings LLC in San Francisco, Calif. The deal was brokered through Cliff David and Steve Gebing of Marcus & Millichap Real Estate Investment Services in Phoenix. Public records show the buyer (BAZV FCC Fairways LLC) acquired The Fairways with a $26.42 million loan from Bank of America. Bascom Arizona Ventures LLC was formed by The Bascom Group in Irvine, Calif. (Derek Chen, Jerome Fink, David Kim, principals). Glenn Daiutolo, who operates from Scottsdale, completes the partnership of principals who together form Bascom Arizona Ventures LLC. Bascom Arizona Ventures is looking to purchase additional multi-family communities in the Valley. The seller foreclosed on the previous owner of The Fairways. Continue reading:

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