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PRESCOTT, Ariz. — Bascom Arizona Ventures has acquired the Prescott Lakes Senior Community, a 123-unit luxury independent living community for $18 million or $146,341 per unit.
Built in 2003, the community is located within the Prescott Lakes master-planned community in Prescott, approximately 100 miles north of Phoenix.
Bascom plans interior and exterior renovations to the community, including an in-pool lounge, new entrances and a remodeled clubhouse.
Brian Halpern and Alex Kane of Jones Lang LaSalle Americas Inc. arranged the debt financing for the buyer. John Cunningham from JLL represented the undisclosed seller in the transaction.
Bascom Arizona Ventures is an affiliate of private equity firm The Bascom Group LLC.