MIDLAND, TX – Investors Capital Group, a multifamily investment firm headquartered in Seattle, Washington announced the acquisition of Wall Street Lofts, a 108-unit mixed use multifamily property located in Midland, TX. It is the second apartment property in ICG Apartment Fund 9 LLC, which will ultimately include approximately four to six assets.
The property is a midrise in a prime location, situated in the center of downtown. Amenities include a clubhouse, fitness center, business center, pool, dog run, and BBQ stations. There are two commercial tenants in the property, including a restaurant and a hair salon.
Wall Street Lofts is a unique asset, and we are excited to own this class A mid-rise in the heart of Midland, said Mick Halpin, Principal and Managing Member at Investors Capital Group. Midland Odessa has limited new multi-family construction, and we believe the macro-economic forces will continue to drive demand for this asset.
Investors Capital Group was attracted to this property for its fantastic location and access to downtown. The property provides incredible walkability to all the best restaurants, bars, and nightlife in Midland s downtown. Residents also have incredible walkability to the main business district which continues to see a steady increase in high-paying jobs.
Investors Capital Group is a Seattle-based real estate investment firm that focuses on opportunistic acquisitions and quality management of multifamily residential properties across the Western United States to provide attractive returns for accredited investors. With over two decades of experience, Investors Capital Group has bought more than $2 billion worth of multifamily housing.

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IRVINE, CA – The Bascom Group has bought Ancient River Place, a 249-unit single family residential-style, build to rent multifamily residential property located in the highly desirable Southwest submarket of Bakersfield, California. The buy price was $56,633,500 or $227,444 per unit.
Despite the high-interest rate environment and anemic property sale market, the property marks Bascom’s sixth acquisition of 2024 and twenty sixth multifamily acquisition in California’s Central Valley. Annette Rice and Jamie Kline of JLL arranged the debt financing for the acquisition with TPG Real Estate Finance Trust as the lender. The seller was represented by The Mogharebi Group’s investment sales team led by Mark Bonas. Apartment Management Consultants will provide property management services and SD-CAP will provide construction management.
The buy of Ancient River Place comes on the heels of five previous 2024 acquisitions made by Bascom. Bascom remains highly active pursuing new acquisitions throughout the United States and intends to continue portfolio expansion through year-end.
Bascom has been one of the most active apartment buyers in California and the Central Valley partnering with institutional and private capital. Prior to purchasing Ancient River Place, Bascom had bought 130 multifamily properties and 20,773 units in California, with 25 of those properties and 3,619 units located in the Central Valley. Over the past six months, Bascom has completed roughly $265 million in multifamily acquisitions nationwide.
Joe Ferguson, Acquisition Manager for Bascom, states “Ancient River Place is a uniquely well-constructed build to rent community in the affluent area of Southwest Bakersfield. Each unit at the property has an attached two-car garage and dedicated outdoor space. Ancient River Place adds another well-located, recently built asset to the Bascom portfolio that should perform well in a market that needs housing. The high-interest rate environment and the resulting increased monthly mortgage payment has only added to the desirability of these build to rent communities. The Bakersfield market continues to demonstrate attractive multifamily fundamentals, and we are excited to strengthen our footprint in one of California’s fastest growing regions.”
Located within the desirable Southwest submarket of Bakersfield, Ancient River Place offers residents a low-density single-family residential style community with an attractive unit mix of two- and three-bedroom units. The property is adjacent to affluent Bakersfield neighborhoods such as Seven Oaks and Hagan Oaks, provides residents simple access to retailers like Sprouts, Trader Joes, Lululemon and Target, and accessibility to major employment drivers such as Cal State Bakersfield and Dignity Health – Mercy Hospital.
Bascom’s Lee Nguyen, Senior Vice President of Portfolio Operations, adds “Ancient River Place has been well-maintained while demonstrating consistent rental demand. As part of our strategic renovation program, Bascom intends to upgrade unit interiors with new appliances, countertops, backsplash, cabinetry, as well as enhancing the property’s exteriors and community amenities. All of the units remain in a classic or original condition, giving our operations team considerable room to add desirable elements while providing residents an affordable housing option in a well located, highly desirable rental community.”
Bakersfield has been one of California’s best performing apartment markets, highlighted by consistent occupancies above 95%. The strong fundamentals have been driven by limited new supply, high population growth (no large California city has grown more than Bakersfield over the last five years), and a diversifying economy. The city serves as a hub for various industries including agriculture, healthcare, energy, manufacturing, and a growing logistics industry. Bakersfield’s central location in California’s San Joaquin Valley makes it a key transportation hub. It’s well-positioned along major highways like Interstate 5 and State Route 99, facilitating efficient movement of goods between Northern and Southern California, as well as connecting to other states. As a result, major businesses continue to invest in Bakersfield for future growth. Notably, Tesla has plans to build the world’s largest supercharger station and Wonderful Co. recently announced a major expansion of their industrial park, which is projected to support 50,000 jobs.

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SEATTLE, WA – Security Properties bought SKY Sammamish, a 159-unit multifamily property built in 2018 and located in Sammamish, Washington, for $70,250,000. Security Properties now owns 28 assets and over 6,400 units in the Greater Seattle marketplace.
Sammamish, a highly desirable suburb east of Seattle situated between Bellevue, Redmond, and Issaquah, offers an irreplaceable combination of top tier school districts, access to local employers and proximity to some of Washington’s most desirable nature. While its population has grown quickly over the past 20 years, the city has historically been, and is forecasted to continue, being one of the most supply insulated submarkets in the entire Seattle metropolitan area. This has caused the barrier to entry to be extremely high, with median home values exceeding $1.6 million. Consequently, the median household income in Sammamish is about $215,000 higher than any other US city with a population over 50,000.
SKY Sammamish is located along 228th Ave., the city’s primary north and south thoroughfare with access to both I-90 (to the south) as well as SR-202 (to the north). The property was developed as a phase of the expanding Sammamish Town Center ‒ a multi-phase, mixed-use development project that will serve as the new town center for Sammamish. The property is the only housing located within the town center development and sits adjacent to a variety of commercial spaces, retail, and food options. Most notably, the site is adjacent to Metropolitan Market, an upscale Seattle-based grocery chain.
The business plot is a core-plus investment with moderate upgrade characteristics. While the asset currently offers a best-in-class amenity package and well-appointed living units, Security Properties has identified several opportunities to further emphasize these strengths.
According to Alex Gauper, Senior Director at Security Properties, the acquisition was made because, “SKY Sammamish is a prime example of our firm’s investment thesis of identifying newer-vintage assets in markets with high barriers to entry and a diverse mix of stable drivers. We feel that we have the best asset in a submarket with a very limited historical supply, brilliant schools, and strong demand for high-quality housing. The Issaquah and Sammamish submarket has been a strong performer for us for many years and we are excited to add to our existing portfolio in the area.”

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