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Bascom, Artemis Buy 248-Unit Phoenix Townhomes Apartment Community in Fresno for $35M

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Phoenix Townhomes in Fresno, Calif., features 248 two- and three-bedroom apartments.

FRESNO, CALIF. — The Bascom Group, in partnership with Artemis Real Estate Partners, has acquired Phoenix Townhomes, a condominium-style apartment complex located at 5355 N. Valentine Ave. in Fresno. An undisclosed seller sold the asset for $35 million, or $141,129 per unit.

Constructed in 2004, Phoenix Townhomes features 248 apartments in a mix of two- and three-bedroom layouts. The property is located six miles northeast of downtown Fresno and within minutes of Fresno State University, as well as State Highways 99, 41 and 180.

Mark Mimm of SVN/MJM & Associates brokered the transaction.

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