BASCOM ADDS TO APARTMENT PORTFOLIO . . . PAYS $40.5 MILLION FOR 408 UNITS IN PHOENIX

A company formed by Bascom Arizona Ventures LLC paid $40.5 million ($99,265 per unit) to acquire the 408-unit Indigo Creek apartments located at 14221 N. 51st Avenue in Glendale. The seller was CFS Indigo Creek LLC, a company formed by Falcon Southwest in Austin, Tex. (Phil Capron, pres.). The transaction was brokered through Steve Gebing…