The Bascom Group and Oberdorf Real Estate have successfully acquired the 360-unit Hearthstone at City Center in Aurora for $74 million. The previous owner, Independence Realty Trust, sold the property which was previously purchased in 2015 for $53.4 million according to Yardi Matrix data. This marks Bascom’s 37th acquisition in Colorado and their tenth acquisition specifically within Aurora.
Built in 1984 on a sprawling 18.25-acre site with forty-one buildings, Hearthstone offers a variety of one-, two- and three-bedroom floor plans designed as a low-density community. Located southeast of Aurora City Center, this well-maintained property has undergone multiple renovation programs over the years and boasts select units with fireplaces as well as private patios or balconies for residents to enjoy.
Hearthstone also features an impressive array of amenities including a resort-style pool, outdoor grilling/picnic areas, fitness center with sauna access, pet park area designated for furry friends to play freely without leashes or restrictions; playgrounds perfect for families with young children; basketball court ideal for sports enthusiasts; plus convenient on-site laundry facilities.
As part of their partnership business plan moving forward into ownership together going forward post-acquisition closing date recently announced by both parties involved – extensive value-add renovations are planned that will include upgrades both inside each individual unit itself along exterior common areas throughout entire complex grounds overall too.
Bascom Spends $74M on Acquisition Deal For Prime Property In Aurora
