SCOTTSDALE, AZ – Bascom Arizona Ventures, a subsidiary of Irvine, California based private equity firm The Bascom Group, LLC has bought a 37-unit property located in downtown Tempe, Arizona. The buy price was $11.5 million, or $310,811 per unit.
Dolce Villaggio Townhomes is situated within downtown Tempe’s Urban Core Master Plot Community. The property is within walking distance of Arizona State University, Tempe Town Lake, and multiple shopping, employment and entertainment developments. Constructed in 2007, the property offers a swimming pool and spa, spacious two- and three-bedroom floorplans, and attached two-car garages for all units.
The buy follows Bascom’s recent acquisition of Tempo at McClintock Station Apartments located near Arizona State University. Tempo is a mid-rise multifamily property consisting of 423 residential units and one retail unit in Tempe, Arizona. The price was $89.2 million, or $210,377 per unit.
The new ownership group plans to invest in capital improvements to the property, including upgrades to the pool and unit interiors.
“Dolce provides us with an exceptional opportunity to buy another property within the forever growing downtown Tempe area,” says Mark Brotherton, portfolio manager of Bascom Arizona Ventures. “We are very excited about our newest acquisition and look forward to commencing our value-add program as soon as possible.”
Comerica Bank provided debt financing, which was arranged by Erich Pryor of Talonvest Capital Inc., for the acquisition.
Chris Roach, Matt Roach, and Brad Cooke of Colliers International advised the buyer and seller in the transaction. Arizona-based MEB Management Services will manage the property.

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OVERLAND PARK, KS – Sherman Residential announced its acquisition of The Sovereign at Overland Park, a 2013 constructed Class A garden multifamily community located in the southern Kansas City metroplex.
The Sovereign is in Johnson County s Blue Valley School District, one of the top-rated districts in the country. With access to major highways and top employers, including Sprint, Cerner, and several medical institutions, residents benefit from a prime location.
Spread over 42 acres, the 24-building property encompasses 250 units and features premium amenities consisting of:

Spacious homes designed for privacy with individual entrances, patios/balconies, and attached garages
State-of-the-art fitness center
Resort-style pool
Business center
Custom-designed resident lounge
Incredible landscaping and outdoor amenities, including a car-detail and pet-washing station

On February 13, 2020, Sherman Residential bought and assumed the management of the property.
Scott Gould, Sherman s Senior Vice President, states, “Sovereign at Overland Park represents our second acquisition in the Kansas City market since we entered it in 2019. We are excited to expand our presence in the market with this acquisition and are looking forward to acquiring additional Kansas City properties in the coming years.”
With a dedicated team, they look forward to making a right sense of community for its current and future residents.
Sherman properties benefit from a national support team with decades of experience. The company has been family-owned for three generations, since 1922, and is headquartered in north suburban Chicago. It manages a successful portfolio of multifamily properties across the country.

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PHOENIX, AZ – Triumph Properties Group has bought Deer Creek Village, a 308-unit apartment community located in Phoenix, Arizona. The $49,500,000 acquisition ($160,714 per unit) is Triumph’s first residential acquisition in the Phoenix market. Deer Creek was developed by Evans Withycombe Residential Inc. in 1985 and owned by the Withycombe family for 20 years. The property was well designed and well maintained, but now requires a full interior and exterior renovation.
“Within five minutes of walking in the apartment community, I recognized the rare opportunity this was in the current market environment. I never expected to be competing with 30 other offers. Fortunately, we have the financial and human capital resources to act quickly and closed the transaction in 18 days with no financing. After closing, we will secure bridge financing and look for outside like-minded capital partners and start the implementation of our full renovation,” said Steven Feder, President of Triumph Properties Group.
Triumph is continuing to expand its acquisition platform with $100 to $150 million in acquisitions targeted over the next 12 months. Based in Beverly Hills, California, Triumph combines the flexibility and responsiveness of an efficiently managed firm with a strong balance sheet, generated by a half-century of superior risk-adjusted returns. As a long-term owner and investor, Triumph Properties Group is dedicated to identifying unrealized opportunities and maximizing value in its growing portfolio.

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