Bascom Arizona Ventures Plans Capital Upgrades for 289-Unit Tucson Apartment Complex

Bascom Arizona Ventures, a subsidiary of The Bascom Group, has purchased Domain 3201, a 289-unit garden-style apartment complex in Tucson, Arizona, for $45.5 million. The acquisition, representing a per-unit price of approximately $157,439, was financed by BrightSpire Capital, with Institutional Property Advisors arranging the transaction. This marks the firm's second apartment acquisition in the city this year, purchased from Seattle-based Investors Capital Group.

Located at 3201-3225 W Ina Rd, the 12.5-acre property was constructed in phases between 1985 and 1990 and features three swimming pools alongside a mix of one-, two-, and three-bedroom units. Bryten Real Estate Partners has been tapped to manage the community, while the new owners plan to execute a capital improvement program focused on updating common areas and unit interiors. The asset previously sold for $37.7 million in 2019.