by IvyLee Rosario FEB 20-2017
The Bascom Group and affiliates of Oaktree Capital Management plan a major renovation for the 252-unit community.
Tucson, Ariz.—The $250 million joint venture by The Bascom Group and funds managed by Oaktree Capital Management acquired La Entrada Apartments, located at 255 N. Granada Ave. in Tucson, Ariz. ACORE Capital provided debt financing, arranged by Brian Eisendrath, Brandon Smith and Annie Rice of CBRE. Onsite property management will be provided by Morrison, Ekre & Bart Management Services.
Built in two phases in 1984 and then 2005, the 252-unit community offers one-, two- and three-bedroom floorplans ranging from 733 to 1,338 square feet, according to Yardi Matrix. In-unit features include washer/dryer hookups, fireplaces, private balcony/patios and vaulted ceilings. Residents have access to amenities such as a clubhouse, tennis and basketball court, fitness center, barbecue area with picnic tables, swimming pool, spa, laundry facility and 205 parking spaces.
“Bascom will recapitalize the property with exterior and interior renovations, which will equip La Entrada with one of the best amenity packages in the submarket,” said Bill Wright, asset manager of Bascom affiliate Bascom Arizona Ventures. “We look forward to creating value for our new residents.”
This purchase follows the recent acquisitions of the 290-unit Springs at Silverbell and 196-unit Springs at Continental Ranch, both Class A communities also located in Tucson.
“La Entrada provided us with an exceptional opportunity to acquire another multifamily property in a highly desirable location, well below replacement cost, with significant upside with our value-add program,” said Mark Brotherton, portfolio manager of Bascom Arizona Ventures. “La Entrada is our 16th acquisition since August 2012 in the state of Arizona, and our third in Tucson in the last few months. We are very excited about our newest acquisition and look forward to commencing our value-add program as soon as possible.”
“You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur “
FROM ME:
Now is the time, if you are thinking of selling or purchasing your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County, Pinal County, Arizona / Office / Retail / Industrial / Multi-family / please call me on my cell 520-975-5207 or e-mail me walterunger@ccim.net
Phoenix Commercial Real Estate and Investment Real Estate: Investors and Owner / Users need to really know the market today before making a move in owner user Commercial Properties, Investment Properties and land in Phoenix / Maricopa County, Pinal County / Arizona, as the market has a lot of moving parts today. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and large tracts of Residential Land Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands Commercial Properties and Investment Properties.
I am marketing my listings on Costar, Loop-net CCIM, Kasten Long Commercial Group. I also sold hundreds millions of dollars’ worth of Investment Properties / Owner User Properties in Retail, Office Industrial, Multi-family and Land in Arizona and therefore I am working with brokers, Investors and Developers. I am also a CCIM and through this origination ( www.ccim.com ) I have access to marketing not only in the United States, but also international. Click here to find out what is a CCIM:
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WEEKLY APARTMENT CLOSING UPDATE / THROUGH February 10, 2017 / Phoenix Arizona Metro
WEEKLY APARTMENT CLOSING UPDATE / THROUGH February 3, 2017 / Phoenix Arizona Metro
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Phoenix projected as number one US housing market for 2017
http://walter-unger.com/phoenix-projected-as-number-one-us-housing-market-for-2017/
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http://walter-unger.com/why-phoenix-2/
Reasons to Consider me for Commercial Referrals – I have the Knowledge and Experience
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Walter Unger CCIM – walterunger@ccim.net – 1-520-975-5207 – http://walter-unger.com
2016 Official Arizona Visitors Guide
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Timeline of Phoenix, Arizona history
http://en.wikipedia.org/wiki/Timeline_of_Phoenix,_Arizona_history
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http://en.wikipedia.org/wiki/Phoenix,_Arizona
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Facts of Arizona – year 1848 to 2013
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Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Properties in Phoenix, Tucson, Arizona.
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Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years. If you have any questions about Commercial / Investment Properties in Phoenix or Commercial / Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion with you. I am also in this to make money therefore it will be a win-win situation for all of us.
Please reply by e-mail walterunger@ccim.net or call me on my cell 520-975-5207
Walter Unger CCIM
Senior Associate Broker
Kasten Long Commercial Group
5110 N 40th Street, Suite 110
Phoenix , AZ 85018
Direct: 520-975-5207
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