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CORONA, CALIF. – A joint venture between the Bascom Group and funds managed by Oaktree Capital Management has acquired the Springs Apartments, a 320-unit apartment complex in Corona, for $43.2 million. The garden-style community is located at 650 Ebbcreek Drive. The Springs contains 20 buildings that were constructed in 1987.
The joint venture is looking to acquire $250 million in value-added multifamily properties throughout the U.S. Debt for the Springs was arranged by CBRE’s Brian Eisendrath through OneWest Bank.