June 7, 2016
Irvine, CA-based The Bascom Group, LLC acquired acquired Melograno at Teravista, a more than 300-unit multifamily asset in Round Rock, TX for an undisclosed amount. The property consists of 19 residential buildings and one stand-alone leasing center spread across 17 acres in a burgeoning community near North Austin, TX.
Bascom’s James D’Argenio says, “We acquired a well-built, well-located asset benefitting from a great school system and a stable resident base. Although recently built, the interiors offer an upgrade opportunity when compared to newer, more expensive apartments.”
HFF’s De’On Collins, John Brownlee and Charles Halladay arranged debt financing, while HFF’s Sean Sorrell represented the unnamed seller in the transaction.