The Irvine-based Bascom Group has completed another apartment refinancing, securing $62.5 million for a 275-unit multifamily community in Denver, Colorado.
Viceroy Observatory Park, developed in 2018, is a two-building, five-story apartment property with 46 studios, 175 one-bedroom units and 54 two-bedroom units.
The private equity real estate firm acquired the property at 1910 S Josephine St. from PGIM Inc. in 2018 for $92.5 million
In a news release, Bascom officials said the refinancing replaces a loan that was set to mature in October 2026 with a new loan that has a two-year initial term and three one-year extension options.
Jamie Kline and Kyle White of JLL arranged the financing. Shawn Cully and Roy Bezkostny of Prime Finance provided the $62.5 million loan.
This is the Bascom Group’s second apartment refinancing announced this week, following a $30.8 million deal for a 200-unit multifamily property in Las Vegas.
