DALLAS, TX – The Bascom Group has bought the Jasmine Apartments, a 1980-built 370-unit multifamily community located in North Dallas near the Richardson city line. Bascom has historically been one of the more active buyers in Texas, with the buy of Jasmine marking Bascom’s 42nd Texas acquisition.
The property was foreclosed on in 2025 by the lender and was marketed by Taylor Snoddy and Eric Stockley of Northmarq’s Dallas investment sales team. MORE Capital, an affiliate of Morgan Properties, provided the debt financing for the acquisition, which was arranged by Joe Giordani, Scott Botsford, Brendan Golding, and Alvin Cao with Northmarq’s capital markets team. RPM Living will be the property manager and SD-Cap will be the construction manager. James D’Argenio and Chang Liu sourced and managed the acquisition for Bascom.
Situated on Esperanza Road near the Coit Road and Spring Valley Road corridors, Jasmine benefits from a rare combination of connectivity, school quality, and lifestyle amenities. The location gives residents rapid access to the Galleria, the Telecom Corridor, Medical City, North Dallas, and the broader Far North Dallas area, making the property an attractive option for residents working throughout the metro.
The property falls within Richardson ISD, a district widely recognized for strong academic performance and consistently ranked among the top public-school systems in North Texas. The community is surrounded by well-established retail nodes along the Coit Road and Spring Valley Road corridor, including grocery-anchored centers such as Spring Valley Crossing and Northwood Hills Village, along with a wide mix of restaurants, pharmacies, and convenience retailers.
During the 2020–2025 window, 1980s-built apartments in Texas experienced a turbulent real estate cycle. Massive out-of-state migration and corporate relocations into metros like DFW, Austin, and Houston turned these 40-year-ancient assets into prime targets for buyers seeking value-add investment strategies.
The market pivoted sharply between 2023 and 2025 as a wave of new apartment supply hit major Texas cities. To attract tenants, these newer properties offered heavy concessions, forcing 1980s assets to lower prices to compete. Operating expenses increased rapidly, driven by rising tax valuations and surging insurance premiums. The Federal Reserve aggressively raised interest rates, causing debt service costs on floating-rate loans to double.
Institutional capital has shifted toward post-1990 multifamily assets as older-vintage properties struggle under overleveraged, floating-rate debt and compressed operating margins. That flight to newer Class A/B communities has left older-vintage assets in a temporary illiquidity window, making a compelling entry point, with distressed operations and capital outflows driving meaningful valuation resets for experienced buyers ready to do rehab strategies.
Chang Liu, Principal of Acquisitions for Bascom, states, “We are excited to buy a workforce housing community with a clear rehabilitation and value creation business plot. A strong workforce housing subsector is vital to the overall multifamily market and critical for young professionals and families earning below the area median income.” Jason Hanna, Senior Principal of Operations, comments, “Every renter deserves a quality home to live in with strong hospitality and community services. We are excited to partner with SD-Cap and RPM to physically enhance the community while adding to the existing services to improve the renter experience.”

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SEATTLE, WA – Griffis Residential, a vertically integrated multifamily owner and operator based in Denver, Colorado, serving 13 markets coast to coast, announced that Griffis Premium Apartment Fund IV (“Fund IV”) has completed the sale of Griffis North Creek, a 524-unit apartment community in the Seattle metropolitan area.
Griffis Residential’s disciplined investment strategy at Griffis North Creek produced Net Operating Income (NOI) growth nearly triple the National Council of Real Estate Investment Fiduciaries (NCREIF) Property Index for apartments within the respective core-based statistical area (CBSA), reinforcing the firm’s cycle-tested approach to value creation.
“Despite elevated supply and rising interest rates, we have continued to successfully harvest investments and deliver strong outcomes for our investors,” said Jim DiRienzo, Senior Vice President of Investments. “Our disciplined approach to fixed-rate, long-term, low leverage has provided stability through a challenging market environment, while our vertically integrated management platform, refined over 40 years, has enabled us to make operational alpha, maintain stability, and continue delivering successful results.”
Targeted capital improvements at Griffis North Creek, combined with operational initiatives, significantly enhanced the property’s performance, driving 50% NOI growth while continuously improving resident satisfaction scores.
Griffis Residential, based in Denver, CO, is a vertically integrated multifamily investment firm currently operating a $3.8 billion portfolio of institutional-quality apartment communities in high-growth innovation hubs. The Griffis Residential management platform includes ~300 apartment professionals located in Austin, Dallas, Denver, Frisco, Los Angeles, Orange County, Portland, San Diego, Seattle, Silicon Valley, Bethesda, MD, Pompano Beach, and West Palm Beach.

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COLORADO SPRINGS, CO – Thompson Thrift, a full-service, nationally recognized real estate company and one of the nation s leading multifamily developers, recently hosted a ribbon cutting celebration for Switch, a 276-unit Class A multifamily community within Colorado Springs Polaris Pointe development.
Switch reflects Thompson Thrift s commitment to making high-quality communities in locations where residents want to live, work and spend time, said Angie Atkins, senior vice president of community management for Thompson Thrift. With thoughtfully designed apartment homes, resort-style amenities and convenient access to employment, dining and entertainment, Switch offers residents a comfortable and connected lifestyle in Colorado Springs.
Located on approximately 11 acres at the intersection of two major thoroughfares, Voyager Parkway and North Gate Blvd., Switch offers brilliant visibility and connectivity to I-25, allowing residents to reach top area employers within a few minutes, including the U.S. Air Force Academy, UCHealth Memorial Hospital North and Progressive Insurance. Residents can also reach greater Colorado Springs in 20 minutes and downtown Denver in only 40 minutes.
Switch provides 276 apartment homes in one-, two- and three-bedroom configurations. Apartment homes average 1,000 square feet and feature a host of premium amenities including stainless-steel appliances, glass-top ranges, hardwood-style flooring, walk-in showers, multiple smart home capabilities and full-sized washers and dryers. Additionally, select units offer premium appliances, cabinetry with soft-close doors, a deluxe closet system with shelving and garage options.
Community amenities include a fully equipped 24-hour fitness center, resort-style heated swimming pool, electric firepits, a billiards and shuffleboard area, bike storage and workshop, a dog park and pet spa, and a coffee bar. Residents can utilize the residence conference room with video conference technology, the outdoor entertainment kitchen, and community-wide Wi-Fi.
During the ribbon-cutting celebration, guests toured the clubhouse, model home and community amenities. As part of Thompson Thrift’s ongoing commitment to supporting the communities where it develops, the company also presented a charitable donation to Dream Centers Mary s Home, a long-term transitional housing program in Colorado Springs offering care and supportive housing for single mothers and their children exiting homelessness.
Positively impacting the communities where we live and work is an vital part of Thompson Thrift s mission, said Tamera Greene, vice president of community management for Thompson Thrift. We are pleased to support Dream Centers Mary s Home and its efforts to provide mothers and children with housing and resources as they work toward a brighter future.
Switch is strategically located within Colorado Springs Polaris Pointe development, a 60-business, 200-acre retail complex that features the brand-new Ford Amphitheater, an 8,000-seat entertainment venue that includes a 45,000-square-foot, year-round restaurant and event center. Additional dining, entertainment and shopping options at Polaris Pointe include Sprouts, Bass Pro Shops, Chick-fil-A, Topgolf, indoor skydiving at iFly, trampoline and adventure park AirCity 360 and Overdrive Raceway.

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