April 24, 2024 6:37 pm
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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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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.