IRVINE, CA – The Bascom Group has successfully closed the offering for its fifth fully discretionary multifamily real estate investment fund. The fund, Bascom Value Added Apartment Investors V, LLC (“Fund V”), raised equity commitments of $150 million. This equity, with leverage, provides up to $500 million of buying power for multifamily acquisitions in the U.S.
According to Bascom Principal, Chad Sanderson, “We had very strong interest in Fund V and were able to raise the $150 million maximum offering amount. Fund V included high net worth individuals, family offices, and institutions. The bulk of Fund V investors are from RIAs (Registered Investment Advisors) and are repeat investors from previous Bascom-sponsored funds.” Sanderson continues, “Fund V is designed to buy value add, distressed, and opportunistic multifamily properties between $10 million and $90 million.”
To date, Fund V has bought thirteen multifamily properties with a total cost of $460,000,000 and is targeting one to two additional acquisitions. “Our goal is to have Fund V fully invested this year,” comments Jerry Fink, Managing Partner of Bascom. “Our discretionary Fund V structure allows us to not only be disciplined buyers, but to close quickly when we identify attractive investment opportunities. A number of the acquisitions were bought off-market, avoiding the highly competitive bidding process.”
“Fund V includes properties ranging from older workforce housing to newer, higher-quality multifamily communities. We plot to complete a renovation plot targeting unit interiors, building exteriors, and community amenities, in addition to implementing an institutional-quality management team,” adds David Kim, Managing Partner of Bascom. “Even in this low cap rate environment, we see an opportunity to improve operating performance by leveraging our team’s expertise in renovations and operating efficiencies.”
“We are continually evaluating all our markets and targeting inefficiently priced properties for our Fund investments,” clarifies Bascom’s Acquisitions Manager Joe Ferguson. “The Fund has allowed us to spend more time finding the best relative risk-adjusted returns and maximizing property operations.”

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GRAND PRAIRIE, TX – National multifamily real estate development leader Wood Partners announced the grand opening of its latest luxury residential community, Alta Grand Crossing, in the blossoming neighborhood of Grand Prairie, Texas.
Nestled between Dallas and Fort Worth, Alta Grand Crossing features 322 apartment homes located at 1661 S Forum Drive. The community offers one-, two- and three-bedroom floor plans across the expansive 15-acre property. Positioned minutes from local college campuses, top employers and local attractions, Alta Grand Crossing offers residents local convenience paired with luxury living. Key employers in the area include Airbus, Lockheed Martin, and Bell Helicopter, along with the University of Texas at Arlington and Tarrant County College.
“Alta Grand Crossing strikes the perfect balance between casual comfort and luxury living in a convenient suburban environment,” said Ryan Miller, Managing Director for Wood Partners. “As we welcome residents to one of the newest communities in the Grand Prairie area, Wood Partners looks forward to cultivating a locally-focused community of luxury apartment homes with five-star customer service.”
With spacious nine-foot ceilings, each apartment home is fully outfitted with contemporary design elements including rich wood-style plank flooring, expansive kitchen islands, and gorgeous granite countertops. Additional luxury features offered include state-of-the-art Whirlpool® stainless steel appliances, full-sized in-unit washer and dryer sets, fenced-in outdoor yards, and keyless entry.
Alta Grand Crossing will also provide best-in-class community amenities for residents to delight in, including a resort-style swimming pool, lush courtyards, an expansive on-site pet park and “paw-spa.” The property also houses a lavish resident clubroom and coffee bar, a 24/7 fitness center with a superior collection of traditional and high-tech equipment, and a business center featuring executive conference rooms.
Alta Grand Crossing’s prime location boasts direct access to the President George Bush Turnpike and I-20, making residents’ day-to-day commutes a breeze. In addition, residents delight in simple access to well loved retailers such as IKEA, Home Depot and the Grand Prairie Premium Outlets. The property is also just minutes from Grand Prairie’s new mixed-use development, The Epic, a 170-acre, wide-ranging entertainment destination that includes a year-round waterpark with a retractable roof.

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ATLANTA, GA – FCP announces the acquisition of Avery Townhomes in the Atlanta submarket of College Park, GA for $32 million. The 220-unit apartment community at 2609 Charlestown Drive features close proximity to south Atlanta’s largest employment centers, including Hartsfield-Jackson International Airport, the I-85 South Industrial Corridor and the Fulton Industrial Corridor.
FCP has invested in 31 properties since its entry into the Atlanta market in 2015 and its multifamily portfolio in the market now stands at 6,402 current units.
“Avery Townhomes is a fantastic bolt-on acquisition to FCP’s growing south Atlanta portfolio,” said FCP’s Michael Errichetti.”We look forward to addressing capital needs and improving the resident experience.”
Avery Townhomes offers residents a mix of two and three-bedroom townhomes tailored to families in the rapidly growing College Park area. The property is well-amenitized with a pool, clubhouse and playground and is close to well loved retail centers including the Camp Creek Marketplace with 1.2 million square feet of retail anchored by Target and Publix.
FCP will be partnering with Zevulon Capital, an experienced local operator based in Atlanta. FCP extends its appreciation to Matt White and Berkadia for their representation.

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