SANTA FE, NM – The Bascom Group has bought San Miguel Court Apartments, a 1974 built, 96-unit garden-style multifamily property located at 2029 Calle Lorca in Santa Fe, New Mexico. Ryan Greer and CJ Connelly of CBRE arranged the debt financing for the acquisition with LaSalle Debt Investors as the lender. Apartment Management Consultants will provide property management, and SD-CAP will provide construction management services.
With the unprecedented interest rate increases over the past year and subsequent decline in apartment values, San Miguel Court continues the brisk acquisition pace for Bascom in 2024, marking the firm’s third acquisition this year. The buy of San Miguel Court comes on the heels of recent Bascom acquisitions including, The Overlook, a 344-unit garden style multifamily property located in Albuquerque, New Mexico, and Texan26, a 204-bed student housing community in Austin, Texas.
San Miguel Court features a diverse unit mix, including one-, two- and three-bedroom units with in-home washers and dryers, hardwood-style flooring, stainless steel appliances, and large walk-in closets. The low-density property sits in a desirable infill location, offering residents access to a vibrant neighborhood, with proximity to major employment hubs, entertainment, shopping, dining, and recreational facilities.
Tom Gilfillan, Bascom’s Vice President of Acquisitions, expressed enthusiasm about the addition of San Miguel Court to Bascom’s portfolio: “We are thrilled to buy San Miguel Court, an exceptional asset boasting highly efficient floorplans and ample greenspace within a desirable Santa Fe location. The property is conveniently situated near various key amenities such as shopping centers, highly acclaimed restaurants, and major employers. We are encouraged by the ongoing growth in Santa Fe, propelled by robust job expansion and a favorable economic environment, and we are enthusiastic about delivering high-quality living experiences to residents and contributing to the sustained development of the community.”
Santa Fe’s expanding economy, along with an appealing climate and exceptional quality of life, has fueled recent growth in both the population and labor force. In 2023, Santa Fe saw a significant surge, marked by a 3.9% increase in the labor force and the addition of 2,300 new jobs. Key contributors to Santa Fe’s employment growth include the Los Alamos National Laboratory (LANL), a growing hub for scientific innovation and a major catalyst for economic expansion in New Mexico, the quick-emerging Film and Entertainment Industry, marked by new studio developments in Santa Fe’s Midtown District, and the Christus St. Vincent Regional Medical Center, which recently broke ground on a 72,000 square-foot Cancer Center expansion, expected to open late 2024.
Santa Fe is widely considered one of the country’s fantastic havens for arts and culture, due to its numerous galleries, museums, and installations. Santa Fe is the capital of the state of New Mexico and the fourth-most populous city in the state. Tourism is another major element of the Santa Fe economy, with visitors attracted year-round by renowned five-star resort facilities and numerous outdoor activities.
Paul Zakhary, Bascom’s Senior Vice President of Portfolio Operations, outlined Bascom’s plans to enhance San Miguel Court, aiming to make it a top choice for multifamily living in the area: “Bascom plans significant community amenity improvements including a new fitness center, resident clubhouse, leasing office, dog park, and a large central park with covered BBQ stations, bench seating, outdoor games, and tot-lot. Complimenting the significant community amenity enhancements, Bascom is plotting additional upgrades including exterior paint, aesthetic site lighting, landscaping, and unit interior renovations.”
San Miguel Court stands out due to its advantageous infill location, offering simple access to highways, shopping centers, and major employment centers. Within a convenient 10-minute drive, residents can reach the historic Santa Fe Plaza, the developing Midtown District, and key employers such as Christus St. Vincent Hospital, the New Mexico State Capitol, and the Santa Fe office of the Los Alamos National Laboratory.

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AUSTIN, TX – CIM Group announced the sale of District at SoCo, a 215-unit apartment community with 328-space parking garage in Austin, Texas, which it bought in 2013. Built in 2012, District at SoCo is located in the heart of the well loved South Congress district.
The contemporary apartment community offers studio, one- and two-bedroom floor plans providing a stylish living environment with modern kitchens and bathrooms, in-unit washer and dryer, and outdoor patios and balconies.
District at SoCo is designed with four-tale buildings around two outdoor community gathering areas. Outdoor amenities include a courtyard with games and a firepit, an outdoor kitchen, grilling stations and picnic areas, a resort-style swimming pool, and a dog park. Residents also have access to a Club Room, a full-service business center, and a 24-hour fitness facility.
The apartment community provides residents simple access to Austin s active business hubs, parks and recreation options, and educational institutions in addition to the vibrant entertainment found in the South of Congress neighborhood known for its wealth of live music venues, shops, and dining.
CIM Group is an active owner, operator, and developer in Austin, bringing quality real estate uses to enhance the area as it does in other communities across North America. CIM Group s Austin portfolio includes Onyx183, a 390-unit multifamily community located in Northwest Austin, as well as several office properties including the Penn Field Office Campus, Eastside Village, 1300 East 5th St., 507 Calles, and 1021 E. 7th Street. CIM Group also was a co-developer of the Seaholm Power Plant mixed-use redevelopment as well as The Independent luxury condominium tower.
For 30 years, CIM Group has applied its community-focused investing approach by utilizing its broad expertise in owning, developing, repositioning, and operating real estate assets to enhance communities throughout North America.

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CHELMSFORD, MA – Trammell Crow Residential (TCR), the multifamily development platform of Crow Holdings, announced construction has commenced on its latest Alexan community, a 340-unit, luxury multifamily residence in Chelmsford, Massachusetts. TCR will serve as both the developer and general contractor on the project, and construction completion is anticipated for Q4 2025.
Located at 255 Princeton Street, Alexan Chelmsford will redevelop the former UMass Lowell West Campus into a tranquil, 32-acre residential community. Studio, one-bedroom, two-bedroom, and three-bedroom units equipped with stainless-steel appliances, wood-style plank flooring, in-unit washers and dryers, and spacious walk-in closets will be situated within four-tale, elevator-serviced buildings. The development will also offer three-bedroom townhome units with premium unit finishes and integrated garages.
First-class amenities will include a resort-style pool, outdoor courtyards, grilling stations, a state-of-the-art fitness facility, a craft room, and a resident clubhouse complete with a gourmet kitchen and gaming room. Alexan Chelmsford s charming New England setting will be enhanced by the 6.75-acre, deed-restricted wetland area at the entrance to the community. The site s location will allow future residents to easily access Greater Boston s largest employment centers including the Route 3 Tech Corridor, the Route 128 Corridor, the I-93 North Corridor, and downtown Boston.
We are incredibly excited to break ground on Alexan Chelmsford. This community will provide future residents with an unmatched residential experience within a country setting and will be an attractive option for residents in the area. This development is a continuation of our company s efforts to meet Greater Boston s housing demand, said Andy Huntoon, Managing Director, Northeast Division of Trammell Crow Residential. We appreciate the team effort, support, and partnership of our financial stakeholders, municipality representatives, and community members who have helped bring this project to the area.
Last year, TCR announced the groundbreaking of Alexan Waltham, a 210-unit luxury multifamily community in Waltham, Massachusetts, slated to be completed in Summer 2025, and the groundbreaking of Alexan Peabody in Peabody, Massachusetts, anticipated to be complete in Q4 2025. With the addition of Alexan Chelmsford, TCR s Northeast apartment portfolio has nearly 2,000 apartment units in various stages of development.

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