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1/14/26
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Irvine-based Bascom Arizona Ventures LLC acquired The Retreat at Speedway, a 304-unit multifamily property located in Tucson, AZ, for $53.4 mil, or $175.6k/unit. The property was acquired by Bascom’s current fund offering, Bascom Value Added Apartment Investors VI, LLC.
Constructed in 2001 and located at 7401 E Speedway Blvd, against the backdrop of the picturesque Catalina Mountains, The Retreat at Speedway benefits from proximity to the premier Catalina Foothills and access to major employment centers. The two-story, garden-style property offers residents spacious, open concept one- and two-bedroom floorplans and a strong amenity package that features a swimming pool and spa, fitness center, and clubhouse.
The Retreat at Speedway presents a compelling value-add opportunity, with new ownership planning a thoughtful capital improvement program designed to elevate everyday living through refreshed clubhouse spaces, enhanced pool, spa, and fitness areas, and upgraded residences.
This transaction marks BAZV’s first acquisition since February 2020. “BAZV has remained disciplined and committed to sourcing the right opportunity to align with their business plan,” says Joe Daiutolo, Acquisitions Manager for BAZV. “This acquisition reflects our commitment to reinvesting in the community through a thorough renovation program designed to enhance the day-to-day resident experience while unlocking the property’s long-term potential.”
BrightSpire Capital Acquisitions LLC provided debt financing, which was arranged by Brian Eisendrath, Cameron Chalfant, Jake Vitta, and Jesse Zarouk of Institutional Property Advisors (IPA), for the acquisition. Steve Gebing, Cliff David, Hamid Panahi, and Clint Wadlund of IPA advised the buyer and seller in the transaction. Arizona-based property manager Bryten Real Estate Partners will manage the property for BAZV, an affiliate of The Bascom Group.
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