Bascom Arizona Ventures Acquires Multifamily Retreat At Speedway From Weidner Apartment Homes For $53.4M

The asset involved in the transaction is a multifamily property located at 7401 East Speedway Boulevard in Tucson, AZ. It comprises 304 units and was sold for $53,400,000, translating to a price per unit of $175,658.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $53,400,000
• Units: 304
• Price Per Unit: $175,658
• Buyer: Bascom Arizona Ventures
• Seller: Weidner Apartment Homes
• Brokers: Steve Gebing, Cliff David, Hamid Panahi & Clint Wadlund - Institutional Property Advisors
• Mortgage Brokers: Brian Eisendrath, Cameron Chalfant, Jake Vitta & Jesse Zarouk - Institutional Property Advisors

This transaction marks Bascom Arizona Ventures' first multifamily purchase since 2020. The acquisition was financed through debt arranged by BrightSpire Capital with assistance from Institutional Property Advisors.