Smith and Eisendrath of CBRE rep Bascom Group in $28.25 million sale

The Bascom Group, LLC has acquired Hyland Park Centre, a 492-unit community for $28.25 million. Bascom worked with Brandon Smith and Brian Eisendrath of CBRE to arrange the financing for the purchase. Tim Shunta of Unique Properties represented the buyer and seller. The acquisition for Bascom was managed by Jeffrey Fuller and Paul Miszkowicz. The sale expanded Bascom's Denver portfolio to 22 properties, totaling 8,002 units. The on-site property management will be overseen by AMC. Built in 1985, the property is spread over 17.67 acres. Each unit includes modern appliances, private patios/balconies, individual air conditioning, outside storage, and oversized closets. Select units include upgraded light fixtures, French doors, wood-burning fireplaces, upgraded faucets, vaulted ceilings and new countertops. Hyland Park's common area amenities include two swimming pools, two playgrounds, four onsite laundry facilities, a large clubhouse/leasing office, and onsite storage space for rent. Hyland Park is surrounded by major freeways including Interstate 25, 76, 270, and 70, as well as Highway 36, which provide easy access to all major job centers in the Denver metro. Photo: http://www.ereleases.com/pic/2012-Hyland-Park.jpg Jeffrey Fuller, senior VP for Bascom, said, "This represents our third acquisition in the past 90 days in Denver. We are excited about acquiring another property in Denver given the high occupancies and potential for market rent growth."