Bascom Arizona sells Arcadia Cove Apartments to Iowa buyer

Bascom Arizona Ventures completed the $71.5 million — about $165,509 per unit — sale of Arcadia Cove Apartments in Phoenix. Arcadia Cove, built in 1996, is at 2252 N. 44th St. and comprises 432 units. Bascom Arizona Ventures purchased the property in June 2013 for $40.725 million ($94,270 per unit), according to a press release. […]