The private equity firm Bascom Group LLC has acquired San Miguel Court Apartments, a garden-style multifamily property in Santa Fe, New Mexico.
Built in 1974, the 96-unit San Miguel Court features a mix of including one-, two- and three-bedroom units. This is Bascom’s third acquisition in 2024, following the purchases of The Overlook, a 344-unit garden style multifamily property located in Albuquerque, New Mexico, and Texan26, a 204-bed student housing community in Austin, Texas.
“We are thrilled to acquire San Miguel Court, an exceptional asset boasting highly efficient floorplans and ample greenspace within a desirable Santa Fe location,” said Tom Gilfillan, Bascom’s vice president of acquisitions. “The property is conveniently situated near various key amenities such as shopping centers, highly acclaimed restaurants, and major employers. We are encouraged by the ongoing growth in Santa Fe, propelled by robust job expansion and a favorable economic environment, and we are enthusiastic about delivering high-quality living experiences to residents and contributing to the sustained development of the community.”
The financial terms of the deal were not disclosed. Ryan Greer and CJ Connelly of CBRE arranged the debt financing for the acquisition with LaSalle Debt Investors as the lender. Apartment Management Consultants will provide property management, and SD-CAP will provide construction management services.
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