Bascom Group Acquires Jasmine Apartments in Dallas

IRVINE, Calif., Sept. 18, 2026 /CourierPR/ -- The Bascom Group, a private equity firm specializing in value-added multifamily and commercial real estate, has acquired the Jasmine Apartments, a 370-unit multifamily community in North Dallas. This acquisition marks Bascom's 42nd Texas-based property, adding to its extensive portfolio in the region.

Built in 1980, the Jasmine Apartments were foreclosed on in 2025 by the lender. The property was marketed by Taylor Snoddy and Eric Stockley of Northmarq's Dallas investment sales team. MORE Capital, an affiliate of Morgan Properties, provided the debt financing for the acquisition, arranged by Joe Giordani, Scott Botsford, Brendan Golding, and Alvin Cao with Northmarq's capital markets team. RPM Living will be the property manager, and SD-Cap will serve as the construction manager.

Situated on Esperanza Road near the Coit Road and Spring Valley Road corridors, the Jasmine Apartments benefit from a strategic location. Residents can easily access the Galleria, the Telecom Corridor, Medical City, North Dallas, and the broader Far North Dallas area. The property falls within Richardson ISD, a district known for its strong academic performance and consistently ranked among the top public-school systems in North Texas. The community is surrounded by well-established retail nodes, including grocery-anchored centers such as Spring Valley Crossing and Northwood Hills Village, along with a wide mix of restaurants, pharmacies, and convenience retailers.

During the 2020-2025 period, 1980s-built apartments in Texas experienced a turbulent real estate cycle. Massive out-of-state migration and corporate relocations into metros like Dallas, Fort Worth, Austin, and Houston turned these 40-year-old assets into prime targets for buyers seeking value-add investment strategies. The market pivoted sharply between 2023 and 2025 as a wave of new apartment supply hit major Texas cities. To attract tenants, these newer properties offered heavy concessions, forcing 1980s assets to lower prices to compete. Operating expenses increased rapidly, driven by rising tax valuations and surging insurance premiums. The Federal Reserve aggressively raised interest rates, causing debt service costs on floating-rate loans to double.

Institutional capital has shifted toward post-1990 multifamily assets as older-vintage properties struggle under overleveraged, floating-rate debt and compressed operating margins. That flight to newer Class A/B communities has left older-vintage assets in a temporary illiquidity window, creating a compelling entry point for experienced buyers ready to execute rehabilitation strategies.

Chang Liu, Principal of Acquisitions for Bascom, expressed excitement about the acquisition, stating, "We are thrilled to acquire a workforce housing community with a clear rehabilitation and value creation business plan. A strong workforce housing subsector is vital to the overall multifamily market and critical for young professionals and families earning below the area median income."

Jason Hanna, Senior Principal of Operations, added, "Every renter deserves a quality home to live in with strong hospitality and community services. We are excited to partner with SD-Cap and RPM to physically enhance the community while adding to the existing services to improve the renter experience."

Since 1996, Bascom has completed over $23.0 billion in multifamily value-added transactions encompassing 368 multifamily properties and 94,272 units. The company's commercial transaction volume is $5.8 billion in total and amounts to over 23.4 million square feet. Bascom has ranked among the top 50 multifamily owners in the U.S.