The Bascom Group Launches New 506(C) Fund Offering Targeting Value-Add & Distressed Apartment Acquisitions

IRVINE, Calif., March 25, 2025 /PRNewswire/ -- Bascom Value Added Apartment Investors VI, LLC ("Fund VI" or the "Fund"), which is sponsored by The Bascom Group, LLC ("Bascom"), launched a new offering of its securities pursuant to Rule 506(c) under the Securities Act of 1933, as amended. Fund VI is focused on continuing to acquire apartment properties throughout the U.S. that can be repositioned through value-add renovations, management improvements, recovery from being over leveraged and distressed, or may be trading at a significant discount. The Fund has been actively raising capital and acquiring property assets. The Fund currently owns five apartment properties with approximately $68 million of equity invested. The Fund is seeking to raise an additional approximately $76 million in equity this offering. Since 1996, Bascom has completed over $22.0 billion in multifamily value-added transactions encompassing 365 multifamily properties and over 105,000 units.

David Kim, Managing Partner, states, "We note that certain leading real estate research firms report that apartment prices have dropped 20%–30% from their 2022 peak due to capital market dislocations, rising interest rates, and oversupply in certain markets. We believe this has created opportunities to acquire properties at a discount to peak pricing. In addition, we believe rising mortgage rates and a persistent housing shortage have made homeownership less affordable, resulting in strong demand for rentals. We expect national new housing supply to decline after 2024 and we project rents to increase steadily, which would enable investors to capitalize on inefficiencies and distressed assets in select markets."

According to the Fund VI Manager, Chad Sanderson, "The Fund sees several potentially attractive investment themes: newer constructed properties trading at discounts to replacement cost, over-leveraged properties that have performed poorly and facing loan maturities, out of favor properties/markets with attractive going in cap rates, properties that have not had the capital invested to compete with newer properties, and areas of distress emerging for certain markets and properties due to oversupply."

Joe Ferguson, Acquisitions Manager, adds, "The previously acquired properties in Fund VI were either acquired off-market or through a compromised marketing process. Currently, we believe capital market interest and apartment fundamentals vary from market to market and between product types. We believe these variances are creating a buying opportunity for inefficiently priced assets."

Please contact Chad Sanderson at (949) 955-0888 x 123 or [email protected] or Joe Ferguson at (949) 955-0888 x 120 or [email protected] if you would like any additional information about this investment opportunity.

About Bascom: Bascom is a minority-owned private equity firm specializing in value-added multifamily, commercial, and non-performing loans and real estate related investments and operating companies. Bascom sources value-added and distressed properties including many through foreclosure, bankruptcy, or short sales and repositions them by adding capital improvements, improving revenue, and reducing expenses by realizing operational efficiencies through implementation of institutional-quality property management. Bascom, founded by principals Derek Chen, Jerry Fink, and David Kim, is one of the most active and seasoned buyers and operators of apartment communities in the U.S. Since 1996, Bascom has completed over $22.0 billion in multifamily value-added transactions encompassing 365 multifamily properties and over 105,000 units. Bascom's commercial transaction volume is $5.8 billion in total and amounts to over 23.4 million square feet. Bascom has ranked among the top 50 multifamily owners in the U.S. Bascom's subsidiaries and joint ventures include the Bascom Value Added Apartment Investors, Shubin Nadal Associates, Spirit Bascom Ventures, REDA Bascom Ventures, Bascom Northwest Ventures, Bascom Arizona Ventures, Harbor Associates, Village Partners Ventures, CRES, and Realm Group. Bascom's subsidiaries also include Premier Workspaces, one of the largest privately held executive suite, coworking and shared workspace companies in the U.S. For additional information, please visit www.bascomgroup.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about the terms of the offering and other statements identified by words such as "may," "will," "should," "anticipates," "believes," "expects," "plans," "future," "intends," "could," "estimate," "predict," "projects," "targeting," "potential" or "contingent," "guidance," "outlook" or words of similar meaning. Such forward-looking statements are based upon the current beliefs and expectations of Fund VI's management and are inherently subject to significant business, economic and competitive risks, trends, and uncertainties that could cause actual results to differ materially from those projected, expressed, or implied by such forward-looking statements.

All information set forth herein speaks only as of the date hereof in the case of information about Bascom or Fund VI or the date of such information in the case of information from persons other than Bascom, and Bascom disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication.

Contact: Chad Sanderson / Joe Ferguson
Tel: (949) 955-0888 x 123 / (949) 955-0888 x 120
Email: [email protected]

SOURCE The Bascom Group