The Bascom Group LLC is continuing its string of acquisitions in the Houston area with the purchase of two multifamily properties in the city. 

According to a news release, Bascom has acquired the 390-unit Spencer Park Row, located near Katy in west Houston, and the 212-unit Tranquility Lakeside in Pearland, marking the company’s 38th multifamily acquisition in the state. 

"We are excited to acquire assets that were built over 15 years ago but offer characteristics like large floorplans and open greenspace that are desired by today's renters,” Jason Hanna, Bascom’s senior vice president of operations, said in the news release. “We can elevate the interior design to match current modern standards and offer a unique rental product for the submarket.”

Bascom also noted in the release that demand for multifamily properties in Houston picked up steam during the second half of 2021, and the city has taken 34,000 units so far this year, including the 602 units in this deal. The release also noted that the seller in the deal was represented by Matt Phillips and Clint Duncan of CBRE.

According to Bascom’s release, the units acquired were built in 2002 and 2004, with 64% of those being two- and three-bedroom units featuring oversized floorplans and plenty of greenspace. 

Bascom, according to the release, has completed more than $19.7 billion in multifamily transactions since its inception in 1996.