Joe Ferguson & Lee Nguyen Of The Bascom Group Acquire Old River Place In Bakersfield For $56.6M

The property asset involved in this transaction is a multifamily building located at 9701 Sherborne Avenue in Bakersfield. The sale was completed for a total amount of $56,600,000, with the property encompassing 249 units, resulting in a price per unit of $227,309.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $56,600,000
• Buyer: Joe Ferguson & Lee Nguyen - The Bascom Group
• Broker: Mark Bonas - The Mogharebi Group
• Lender: TPG Real Estate Finance Trust
• Mortgage Brokers: Annette Rice & Jamie Kline - JLL
• Units: 249
• Price Per Unit: $227,309

The parties involved in the transaction include Joe Ferguson and Lee Nguyen representing the Bascom Group, marking their sixth acquisition of 2024. Mark Bonas served as the broker from The Mogharebi Group, facilitating the transaction. The financing was provided by TPG Real Estate Finance Trust with mortgage brokerage services handled by Annette Rice and Jamie Kline from JLL.