TUCSON, Ariz., Jan. 12, 2026 /PRNewswire/ -- Bascom Arizona Ventures, LLC (BAZV), an affiliate of Irvine, California-based private equity firm The Bascom Group, LLC (Bascom), acquired the Retreat at Speedway, a 304-unit multifamily property located in Tucson, Arizona for $53.4 million or $175,658 per unit. The property was acquired by Bascom's current fund offering, Bascom Value Added Apartment Investors VI, LLC.

Constructed in 2001 and positioned along Speedway Boulevard against the backdrop of the picturesque Catalina Mountains, The Retreat at Speedway benefits from proximity to the premier Catalina Foothills and access to major employment centers. The two-story, garden-style property offers residents spacious, open concept one- and two-bedroom floorplans and a strong amenity package that features a swimming pool and spa, fitness center, and clubhouse.

The Retreat at Speedway presents a compelling value-add opportunity, with new ownership planning a thoughtful capital improvement program designed to elevate everyday living through refreshed clubhouse spaces, enhanced pool, spa, and fitness areas, and upgraded residences.

This transaction marks BAZV's first acquisition since February 2020. "BAZV has remained disciplined and committed to sourcing the right opportunity to align with their business plan," says Joe Daiutolo, Acquisitions Manager for BAZV. "This acquisition reflects our commitment to reinvesting in the community through a thorough renovation program designed to enhance the day-to-day resident experience while unlocking the property's long-term potential."

BrightSpire Capital Acquisitions, LLC provided debt financing, which was arranged by Brian Eisendrath, Cameron Chalfant, Jake Vitta, and Jesse Zarouk of Institutional Property Advisors (IPA), for the acquisition. Steve Gebing, Cliff David, Hamid Panahi, and Clint Wadlund of IPA advised the buyer and seller in the transaction. Arizona-based property manager Bryten Real Estate Partners will manage the property.

Bascom Value Added Apartment Investors VI, LLC ("Fund VI" or the "Fund"), which is sponsored by Bascom, launched a new offering of its securities pursuant to Rule 506(c) under the Securities Act of 1933, as amended. Fund VI is focused on acquiring apartment communities throughout the U.S. that can be repositioned through value-add renovations, management improvements, recovery from being over leveraged and distressed, or may be a foreclosure and trading at a significant discount. The Fund has been actively raising capital and acquiring property assets. The Fund currently owns six apartment properties with approximately $83 million of equity invested. The Fund is seeking to raise an additional approximately $70 million in equity for this offering. For any questions regarding this Fund, please contact Chad Sanderson 949-955-0888 (ext. 123) or Joe Ferguson (ext. 120).

Chad Sanderson, Fund VI Manager states, "Fund VI is focused on building a diversified multifamily portfolio that emphasizes capital preservation, long-term value creation, and consistent cash flow. With property values resetting meaningfully across many markets and increased pressure on sellers, we see a favorable environment for deploying disciplined capital. The portfolio to date reflects that approach, with attractive investments across markets, asset types, and risk profiles." Joe Ferguson, Vice President, adds, "The Retreat at Speedway is a good illustration of this dynamic. We are acquiring a well-located, institutional-quality property at a strong going-in yield, with clear value-add upside and a cost basis meaningfully below replacement cost, reflecting the types of attractive, risk-adjusted opportunities created by today's pricing reset."

About Bascom Arizona Ventures: Bascom Arizona Ventures, LLC, ("BAZV"), a joint venture between Multifamily Advisors, LLC and The Bascom Group, LLC ("Bascom"), was formed to acquire transitional multifamily assets in the southwestern United States. BAZV, founded by Glenn Daiutolo, has completed over $1.6 billion in multifamily transactions consisting of 53 properties and totaling over 16,700 units in Arizona since 2004, including over 5,000 units in Tucson, Arizona.

About Bascom: Bascom is a minority-owned private equity firm specializing in value-added multifamily, commercial, and non-performing loans and real estate related investments and operating companies. Bascom sources value-added and distressed properties including many through foreclosure, bankruptcy, or short sales and repositions them by adding capital improvements, improving revenue, and reducing expenses by realizing operational efficiencies through implementation of institutional-quality property management. Bascom, founded by principals Derek Chen, Jerry Fink, and David Kim, is one of the most active and seasoned buyers and operators of apartment communities in the U.S. Since 1996, Bascom has completed over $22.0 billion in multifamily value-added transactions encompassing 365 multifamily properties and over 105,000 units. Bascom's commercial transaction volume is $5.8 billion in total and amounts to over 23.4 million square feet. Bascom has ranked among the top 50 multifamily owners in the U.S. Bascom's subsidiaries and joint ventures include the Bascom Value Added Apartment Investors, Shubin Nadal Associates, Spirit Bascom Ventures, REDA Bascom Ventures, Bascom Northwest Ventures, Bascom Arizona Ventures, Harbor Associates, Village Partners Ventures, CRES, BG Pearce, Meridian Investment Group, and Realm Group. Bascom's subsidiaries also include Premier Workspaces, one of the largest privately held executive suite, coworking and shared workspace companies in the U.S. For additional information, please visit bascomgroup.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about the terms of the offering and other statements identified by words such as "may," "will," "should," "anticipates," "believes," "expects," "plans," "future," "intends," "could," "estimate," "predict," "projects," "targeting," "potential" or "contingent," "guidance," "outlook" or words of similar meaning. Such forward-looking statements are based upon the current beliefs and expectations of Fund VI's management and are inherently subject to significant business, economic and competitive risks, trends, and uncertainties that could cause actual results to differ materially from those projected, expressed, or implied by such forward-looking statements.

All information set forth herein speaks only as of the date hereof in the case of information about Bascom or Fund VI or the date of such information in the case of information from persons other than Bascom, and Bascom disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication.

Contact: Chad Sanderson / Joe Ferguson
Tel: (949) 955-0888 x 123 / (949) 955-0888 x 120
Email: 407322@email4pr.com

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SOURCE The Bascom Group