August 4, 2016
Irvine, CA-based The Bascom Group LLC acquired Del Flora, a 23-building multifamily property in Redlands, CA from an undisclosed party for $22.15 million. The 7.4-acre site is located at 30598 Independence Ave.
Bascom believes the asset is well positioned in the Inland Empire marketplace, and Redlands is one of the top submarkets. The property is near some of the best schools, as well as the University of Redlands and major employers.
Built in 1989, the complex offers one- and two-bedroom units, a pool, fitness center, clubhouse and tennis court.
Last month, The Bascom Group formed a joint-venture with Newport Beach, CA-based Village Partners, Inc. to pursue transit-oriented and mixed-use multifamily development opportunities in Southern California, with plans to invest $200 million over the next four years.
For comments, questions or concerns, please contact Dennis Kaiser