|
|
2/14/20
|
Bascom Arizona Ventures has purchased Dolce Villaggio Townhomes, a 37-unit property located in downtown Tempe, AZ, for $11.5 mil ($310.8k/unit). The property is located at 202 S. Hardy Dr, within downtown Tempe’s Urban Core Master Plan Community.
Dolce Villaggio Townhomes is within walking distance of Arizona State University, Tempe Town Lake, and multiple shopping, employment and entertainment developments. Constructed in 2007, the property offers a swimming pool and spa, spacious two- and three-bedroom floorplans, and attached two-car garages for all units.
The new ownership group, a subsidiary of Irvine-based The Bascom Group LLC, plans to invest in capital improvements to the property, including upgrades to the pool and unit interiors. The purchase follows Bascom’s recent acquisition of Tempo at McClintock Station Apartments, a mid-rise multifamily property consisting of 423 residential units and one retail unit, also in Tempe. The price was $89.2 mil, or $210.4k/unit.
Chris Roach, Matt Roach, and Brad Cooke of Colliers International advised the buyer and seller in the transaction. Arizona-based MEB Management Services will manage the property. Comerica Bank provided debt financing, which was arranged by Erich Pryor of Talonvest Capital Inc.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
