Derek M.D. Chen Acquires Multifamily Property In Aurora For $74M

The Bascom Group in partnership with an affiliate of Oberndorf Real Estate Management has acquired Hearthstone at City Center, a multifamily property located at 932 South Helena Way in Aurora, CO. The property was sold for $74 million and consists of 360 units, resulting in a price per unit of $205,556.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $74,000,000
• Units: 360
• Price Per Unit: $205,556
• Buyer: Derek M.D. Chen - Bascom Group

Derek M.D. Chen, representing Bascom Group, was the buyer in this transaction, further solidifying their presence in the real estate market. The acquisition of Hearthstone at City Center reflects their strategic investment approach in the multifamily sector.