Bascom Acquires Independent Living Community in California for $31.2M

by Jeff Shaw

FONTANA, Calif. — The Bascom Group LLC has acquired Courtyard Senior Apartments, a 344-unit independent living community in Fontana, for $31.2 million, or $90,552 per unit.

Built in 1989, Courtyard Senior Apartments consists of four three-story buildings on 8.5 acres.

Gary Mozer and Katie Rodd of George Smith Partners arranged the debt financing, with One West Bank providing the new loan. Stephen Peters of Melody West was the broker for the sale.

This marks Bascom’s 14th recent California acquisition and comes on the heels of the closing earlier this month of The Square Apartments, a 112-unit garden style apartment community in Downey, Calif., for $25.5 million.

Bascom is a Irvine, Calif.-based private equity firm specializing in multifamily, commercial, and non-performing loans and real estate related investments and operating companies.

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