Spirit, Bascom Create Apartment Investment Venture

Law360, New York (January 13, 2012, 12:03 PM EST) -- Real estate investor Spirit Investment Partners LLC and apartment specialist private equity firm Bascom Group LLC are forming a joint venture to invest in middle- to lower-market multifamily properties across the Midwest and Southeast and on the East Coast, Bascom said Friday.

The Spirit Bascom Ventures LLC joint venture will see New York-based Spirit locating so-called class B/C assets for acquisition and managing properties, and will see Irvine, Calif.-based Bascom leveraging its current portfolio of nearly 26,000 units, the companies said.

The parties did not detail...
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