Bascom Group Acquires Dallas Workforce Housing Community
The Bascom Group has acquired the Jasmine Apartments, a 370-unit multifamily property in North Dallas. This acquisition marks Bascom's 42nd Texas purchase and is part of its strategy to invest in value-add opportunities within older apartment communities. The property was foreclosed on in 2025 and purchased with debt financing arranged by Northmarq’s capital markets team. Jasmine benefits from strong connectivity, top-rated schools, and proximity to key employment hubs like the Telecom Corridor and Medical City. It is located near established retail centers along Coit Road and Spring Valley Road. The acquisition comes amid a challenging market for 1980s-built apartments in Texas due to rising supply of newer units, aggressive interest rate hikes, and increased operating costs. Bascom plans to rehabilitate the property with RPM Living as manager and SD-Cap overseeing construction. Chang Liu from Bascom emphasized the importance of workforce housing in supporting young professionals and families earning below area median income.
Topics: multifamily housing real estate acquisition Texas real estate market