Bascom Arizona Ventures, LLC – Acquisition of 304-Unit Multifamily Property in Arizona

A $53.4 million acquisition expands Bascom’s multifamily portfolio in Tucson, targeting value-add repositioning and operational enhancements for investors. For further insights, see our guide on ECB cut rates: real estate investors and.

Bascom Arizona Ventures, LLC has completed the acquisition of The Retreat at Speedway, a 304-unit multifamily property in Tucson, Arizona, for $53.4 million. This real estate transaction underscores the firm’s ongoing focus on value-add investment strategies within the southwestern U.S. multifamily sector. Learn more about AbbVie Inc. – Acquisition of Drug-Delivery.

Transaction overview

The acquisition of The Retreat at Speedway was executed through Bascom’s value-added apartment fund, Bascom Value Added Apartment Investors VI, LLC. The purchase price equates to approximately $175,658 per unit, reflecting current market valuations for stabilized multifamily assets in Tucson. The transaction was financed with debt arranged by BrightSpire Capital Acquisitions, while Institutional Property Advisors provided advisory support. Bryten Real Estate Partners, an Arizona-based property management firm, has been appointed to oversee day-to-day operations and the execution of the planned capital improvement program. You may also find our resource on IRA Capital, LLC – Acquisition of St. Paul’s helpful.

Bascom Arizona Ventures, LLC intends to implement a comprehensive property enhancement initiative, including upgrades to the clubhouse, pool, spa, and fitness facilities, as well as interior renovations across the unit mix. These improvements are designed to reposition the asset within the local market and drive rental growth and occupancy levels. Learn more about Luxembourg's property market: slowdown in price.

Investor and capital markets context

This acquisition aligns with Bascom’s broader strategy of targeting well-located, underperforming multifamily properties in growth markets such as Arizona. The use of value-add capital and institutional debt financing reflects ongoing investor demand for multifamily assets with repositioning potential. The Tucson multifamily market continues to attract capital due to favorable demographic trends, strong employment growth, and consistent in-migration, which support rental demand and stable occupancy rates.

For institutional and private investors, multifamily assets in Arizona offer a combination of income stability and potential for capital appreciation. The involvement of established partners in financing and property management further de-risks the transaction and supports the execution of the value-add business plan. You may also find our resource on ECB cut rates: real estate investors to sell and helpful.

Market implications

The acquisition of The Retreat at Speedway by Bascom Arizona Ventures, LLC signals continued confidence in the Arizona multifamily sector, particularly in secondary markets like Tucson. The planned capital improvements are expected to enhance the property’s competitive position, potentially increasing its appeal to both tenants and future investors. As market fundamentals remain robust, value-add strategies are likely to remain a preferred approach for sponsors seeking to generate alpha in a competitive investment environment. You may also find our resource on Best Walkable Cities in the US for Investors helpful.

For the broader Arizona real estate market, transactions of this scale reinforce the state’s status as a key destination for institutional capital and support ongoing property-level enhancements across the region’s multifamily inventory.