Bascom Northwest Ventures Acquires 260-Unit Class-A Apartment Community in Denver, Colorado for $90,500,000

1000 South Broadway Apartments SAN FRANCISCO, Oct. 24, 2019 /PRNewswire/ -- Bascom Northwest Ventures, LLC ("Bascom Northwest") has acquired 1000 South Broadway Apartments ("1000 South Broadway"), a 260-unit Class-A infill apartment community located in the dynamic city of Denver, Colorado at 1000 South Broadway, Denver, Colorado.  The $90.5 million acquisition ($348,076/unit) closed on October 18, 2019.  Terry Daly of Cushman & Wakefield ("CW") arranged the $54.50 million loan with Wells Fargo Bank.   The property management team will be Avenue 5 Residential. The property was purchased with investment proceeds derived from the sale of a successful 15-year investment in an urban infill property in Bellevue, Washington. Built in 2015, 1000 South Broadway is located in Wash Park with convenient proximity to Denver's major retail, restaurant and employment centers. With short access to the Broadway Station light rail, residents benefit from excellent accessibility to Denver's largest employment centers in the Central Business District and the Denver Tech Center, where companies such as DaVita, Arrow Electronics, [...]