Bascom Arizona Ventures acquired The Retreat at Speedway, a 304-unit multifamily property located at 7401 E Speedway Blvd in Tucson for $53.4 million. The property was acquired by Bascom’s current fund offering, Bascom Value Added Apartment Investors VI, LLC. Weidner was the seller.
Located at 7401 E Speedway Blvd, the two-story, garden-style property offers residents one- and two-bedroom floor plans and an amenity package that features a swimming pool and spa, a fitness center, and a clubhouse.
Constructed in 2001, Bascom said in a release that The Retreat at Speedway presents a value-add opportunity, with new ownership planning a capital improvement program designed to refresh the clubhouse spaces, pool, spa, and fitness areas, as well as upgrade the residences…