Veterans First and Bascom Group Partner to Serve Thanksgiving Dinner to 150 of Orange County's Homeless Veterans
"SANTA ANA, Calif., Nov. 18, 2011 /PRNewswire/ -- As the holiday season approaches, the Bascom group has partnered with Veterans First to provide a wonderful Thanksgiving meal for approximately 150 of Orange County's homeless veterans on Tuesday, Nov. 22, 2011 from 11:00 a.m. - 1:00 p.m. at the Veterans First Service Center, located at 1540 E. Edinger Ave. in Santa Ana, Calif. Read more
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Bascom Group Ranked #10 on OCBJ's Best Places to Work in OC List
Orange County, CA September 5, 2011– Orange County Business Journal. The Business Journal's Best Places to Work lists are the result of months of surveying workers and management at local employers. The final list of 60 represents those that scored highest on a proprietary ranking done by the Business Journal by Harrisburg, Pa.-based Best Companies Group. The ranking is based on an employer questionnaire that details policies, practices, and benefits, and an employee engagement and satisfaction survey. Read more

JV Gets $167M to Pay off Debt
DENVER-Irvine, CA-based the Bascom Group, along with Koelbel and Co. has secured $167-million in financing for the Breakers Resort, a six-village, 1,523-unit, class-A multihousing community here. The financing involved securing a $132 million floating-rate first trust deed through ING Real Estate Finance, and a $35 million mezzanine loan from Blackstone. Read full article

Bascom Group Entity Sheds 128-Unit Multifamily
BAKERSFIELD, CA-Tarzana, CA-based Gelt Inc. acquired its 19th multifamily property since its inception in December of 2008. This particular property was a $11.65-million, 128-unit class A apartment community located in Bakersfield, CA. The seller was an entity of the Bascom Group. Read full article

Foreclosed Anaheim Office Built on Spec Sells for $14M
July, 2011 /Orange County Business Journal/ -- One of the larger North Orange County offices built in the last real estate boom has traded hands through foreclosure, selling to a company with ties to a main tenant. Newport Beach's Realm Group LLC paid close to $14 million for the Anaheim Hills Office Plaza, an office building of about 75,000 square feet office near the Riverside (91) freeway… Read full article

The Bascom Group Exceeds $500 Million in Renovations
IRVINE, Calif., July 15, 2011 /PRNewswire/ -- The Bascom Group, LLC, a leading national apartment investment firm, has completed a total of $566 million in renovations on 206 multifamily communities since 1996. Aggregated, the actual completed renovation costs for the portfolio are below their original allocated budgets. Read full article

Bascom Closes 840-Unit $31.65MM Portfolio in Denver, Colorado
IRVINE, Calif., June 16, 2011 /PRNewswire/ -- The Bascom Group, LLC, in partnership with the Carlyle Group, has acquired an 840-unit apartment portfolio in the Denver Metro region. The portfolio consists of Fairways at Lowry, a 450-unit community in Aurora, Colorado, acquired for $16,650,000 ($37,000 per unit or $70.77 per square foot) and Village at Coronado, a 390-unit community in Thornton, Colorado, acquired for $15,000,000 ($38,462 per unit or $54.27 per square foot). Read full article

Taking New Positions
Like most seasoned apartment renovators, The Bascom Group has seen little opportunity across its portfolio of 32,051 units to invest in serious physical renovation projects over the past three years. Sure, labor has been cheap, and most nonpetroleum building products can be had at a discount to prerecession prices. Read full article

50 Largest U.S. Apartment Owners as of January 1, 2011
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Bascom Group Acquires a 183-Unit Class AAA Luxury Mixed-Use Apartment Community in Downtown Dallas, Texas Through a Receivership Sale
DALLAS, April 22, 2011 /PRNewswire/ -- The Bascom Group, LLC ("Bascom") has acquired The Davis Building, a Class AAA luxury urban infill mixed-use property. The investment includes a 20-story high-rise building featuring a beautiful Neo-Classical facade and including 183 loft-style apartment units, 52,235 feet of premier retail space and the twelve-level 600-space Metropolitan parking garage. Read full article

Multi-family Owner, the Bascom Group, Creates a National Movement to Raise Funds and Awareness for UNICEF
IRVINE, Calif., Jan. 7, 2011 /PRNewswire/ -- In honor of the 60th Trick or Treat for UNICEF anniversary, the Bascom Group partnered with the US Fund for UNICEF in hopes of raising awareness and donations. Leveraging each of their 95 communities across the nation, they created UNICEF portholes at each location. Read full article

8 Ways to Build a Best-in-Class Multifamily Training Program
Last month, the Bascom Group hit a major milestone: It trained its 100th real estate intern, an accomplishment that began in 1996 when the Irvine, Calif.-based multifamily firm brought on its first intern (and third employee!) to help grow the firm. Read full article

INTERNS BASK AT BASCOM
The Bascom Group marked a milestone of having trained and placed 100 real estate interns since the firm's founding in 1996. And these undergrad and grad students aren't just fetching coffee. Managing partner Jerry Fink tells us Bascom views them as a valuable commodity, with a "fresh set of eyes" and the latest skills. Read full article

Collecting Lease Breach Fees Helps Boost Bascom Group’s NOI

Management Insider, Units Magazine, November 2010
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The Bascom Group, LLC Reaches Milestone of 100 Real Estate Interns
IRVINE, Calif., Oct. 28 /PRNewswire/ -- The Bascom Group, LLC, (http://www.bascomgroup.com) a private real estate equity company with a national apartment portfolio exceeding 30,000 units, has recently achieved the milestone of training over 100 real estate interns since its founding in 1996. Bascom's real estate internship program provides hands-on, real life work experience for undergraduate and graduate students. Read full article

Property Managers Control Costs and Boost NOI Through Ancillary Income, Technology
As rents continue to fluctuate from quarter to quarter, property managers are working hard to keep NOI at its maximum level. At the MFE Conference last week in Las Vegas, a panel of management experts, moderated by Mark Fogelman, president of Memphis-based Fogelman Management Group, offered creative strategies to control costs, find new profit areas, and monitor capital expenses in order to boost NOI. Read full article

Despite Industry-wide Optimism, Rehab Still Doesn't Pencil Out
Despite the general optimism in the multifamily industry, rehab still isn't penciling out. Modest improvements in occupancies and rents aren’t enough to push the rehab gates back open again, as every panelist on a renovation panel at the MFE Conference in Las Vegas last week pointed out. Read full article

Susan M. Ansel, Jared Miller, Alliance Residential Win Big at the 2010 Multifamily Executive Awards
WASHINGTON, D.C.—Gables Residential executive vice president and chief operating officer Susan M. Ansel was
named the 2010 Executive of the Year by MULTIFAMILY EXECUTIVE magazine at the annual MFE Awards ceremony in
Las Vegas on Oct. 5. Ansel was one of two individual honors and more than 40 awards presented at the event, which
recognizes exceptional people, projects, and programs across 17 categories. Read full article

The Bascom Group Wins Grand Prize in Renovations Category at the 2010 Multi-Family Executive Conference
IRVINE, Calif., Oct. 13 /PRNewswire/ -- The Bascom Group was awarded the grand prize in the Renovations category at the 2010 Multi-Family Executive Conference for the renovation of the Vistas at Saddle Rock, a 320-unit apartment community located in Denver, Colorado (http://www.vistasatsaddlerock.com/). The Multi-Family Executive Conference, held in Las Vegas, Nevada on October 5, 2010, brought together many of the most prestigious companies in the multifamily real estate industry. This national conference provided an organized forum for topics ranging from property management tools to renovation techniques. Read full article

MALLS REGAIN ALLURE AMID CONTINUED ECONOMIC GLOOM
Mall buyers will focus either on well-performing and stabilized properties, or anemic and value-added space in coming months. Until financing becomes readily available for all mall types, there won’t be much room for anything between the two extremes. Core asset buyers such as Glimcher Realty Trust and Miller Capital Advisory/Institutional Mall Investors should make further strides in and independent of joint venture partnerships nationwide. Value-added mall buyers Boxer Property Management, Morris Capital Partners and Real Estate Development Advisors will scoop vacant properties that core buyers won’t touch and, in doing so, move closer to first-time acquisitions and new market entries. Count on buyers to scout mall deals in the 6% to 7% cap rate range for stabilized assets, up to 9%-plus for value-added deals. Read full article

Sales Out of Receivership Expected to Increase
Favorable court precedents and evasion of foreclosure spurn multifamily sell-off from court-appointed asset receivers.
By:Chris Wood Read full article

Bascom Group Completes All-Cash Foreclosure Auction Purchase in the Sandy Springs Submarket in Atlanta, Georgia
IRVINE, Calif., Sept. 10 /PRNewswire/ -- The Bascom Group, LLC ("Bascom") acquired The Parc at Dunwoody Apartments for $10.0MM ($32,051 per unit). Bascom purchased the property, all-cash, at a foreclosure sale on September 7, 2010. Parc at Dunwoody is a 312-unit Class B property constructed in 1980 and renovated in 2007 and 2008. The property is located in the exclusive Sandy Springs subdivision of Atlanta, Georgia. Read full article

Investor Hunger for Apt. Properties Still Sharp in Second-Half 2010 Investment Capital Beginning to Fan Out Across Country In Search of Core Assets and Discounts on Distressed Properties
By Randyl Drummer - September 8, 2010 - Read full article

Bascom Closes a $7,900,000 Distressed Lender Foreclosure Apartment Community in Denver, Colorado
IRVINE, Calif., Aug. 9 /PRNewswire/ -- The Bascom Group, LLC has acquired the Maples at Crestwood Apartments, a 300-unit community in Denver, Colorado for $7,900,000 ($26,333 per unit or $35.21 per square foot). The property previously sold in 2002 for $19,400,000. The sale closed on August 6, 2010 and expanded Bascom's Denver portfolio to 21 properties totaling 7,500 units. Tim Shunta from Unique Properties represented both seller and buyer. The acquisition for Bascom was managed by Jeffrey Fuller and Han Jang and debt financing was arranged by Gary Mozer and Joshua Roseman from George Smith Partners. The onsite property management will be overseen by Griffis Blessing. Read full article

Bascom Group Acquires a Distressed 360-Unit Luxury Class A Apartment Community in San Antonio, Texas in Receivership
IRVINE, Calif., Aug. 31 /PRNewswire/ -- The Bascom Group, LLC ("Bascom") has acquired The Retreat at Canyon Springs Apartments, a 360-unit luxury Class A property constructed in 2001. The sale closed on August 26, 2010. The apartment community is located in the exclusive Stone Oak subdivision of San Antonio, Texas. The property was purchased through a receivership sale and debt financing was provided by Midland Loan Services. The purchase expanded Bascom's Texas acquisitions to 25 properties totaling 9,173 units. Bascom purchased Retreat at Canyon Springs from the receiver with Ryan Epstein from Marcus and Millichap representing both parties. The acquisition for Bascom was managed by Jeffrey Fuller and Han Jang and the onsite property management will be assigned to GreyStone Asset Management. Read full article

San Gabriel real estate summit highlights opportunities
SAN GABRIEL - China's emergence as an economic superpower has caught the attention of U.S. investors and business leaders, highlighting opportunities that are available to both nations.

The inaugural U.S.-China Real Estate Summit, which kicked off Thursday in San Gabriel, was designed to promote those opportunities. Read full article

Bounce Back: Multifamily Firms Emerge From Recession
In Phoenix, not all apartment companies are created equal in the scope of the market recovery.

An Arizona court of equity has cleared the way for a 3,000-unit, seven-property apartment portfolio previously operated by the Bethany Group to be sold out of receivership, says Bill Hoffman, president and founder of San Diego, Calif.-based Trigild, the corporation that was appointed receiver of the properties last September. Read full article

Apartment rents hitting bottom
Scott R. McClave is a principal of transactions and finance for The Bascom Group, an Irvine-based investment firm that manages over 30,000 units of apartments in 10 states.

McClave is involved with the acquisitions, financing, and dispositions of apartment buildings, which the company renovates, rents up and, ultimately, sells after a number of years. But the crash and credit crunch has changed the environment in which Bascom operates, and the firm now holds apartment buildings much longer, finding that it’s more profitable to operate them than to sell them quickly.

We asked him for an update about this facet of the real estate market … Read full article

Minority-Owned Cos. Hire After Tough ’09Minority-Owned Cos. Hire After Tough ’09
The county’s largest minority-owned businesses are coming off a tough 2009 by hiring in anticipation of a better 2010. This week’s Business Journal list of 50 minority-owned businesses saw about 125 local workers added in the past 12 months—most in recent months—for a total of 8,323 workers in Orange County. Total hiring here and across the globe for all the companies was up 3% in the past 12 months to 18,069 workers. Read more... | Download the 2010 MINORITY-OWNED BUSINESSES List (pdf)

50 Largest U.S. Apartment Owners as of May, 2010
The same owners as last year top the charts - but with lower unit counts. Click here to view the list.

50 Largest U.S. Apartment Owners as of January 1, 2010
Bascom have moved up seven spots since last year's ranking. Click here to view the list.

The Bascom Group Pushes with Community Outreach Initiatives Despite Unstable Market Conditions

Bascom invests into communities as others are withdrawing

IRVINE, Calif., April 6 /PRNewswire/ -- Despite harsh economic times and unpredictable budget cuts, The Bascom Group has managed to continue pushing resident retention and outreach efforts at their communities. Like others, The Bascom Group was put to the test in a volatile period where vacancies spiked and rents plummeted. With no immediate signs of improvement in sight, Bascom managed to steer through the chaos by investing more time and money into their communities via outreach programs, tutoring/mentoring activities, and community assistance.
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Bascom Cuts Costs, Increases Tenant Outreach to Face Weakened Economy

Irvine, Calif.–The Bascom Group LLC, a private apartment owner with a portfolio of 100 properties totaling more than 29,400 units nationwide, has reported an increase of 11.8 percent in its portfolio net operating income for the fourth of quarter of 2009, compared with the same period a year earlier. The company’s total portfolio income declined 2.1 percent in 3Q08 compared with 4Q08, despite a decline in rents of 8.6 percent.
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