Corona Del Norte, an apartment community with 29 units located in the South Bay neighborhood of Torrance, has recently been purchased by the Bascom Group for $6.3m.
Several interstate highways, including 405, 110, 105, and 710, are nearby Del Norte, providing access to the local area and the region. It is also less than five miles from the Pacific Ocean and within a 30-minute commute from major companies, such as AT&T Entertainment Group, Harbor-UCLA Medical Center, Boeing Satellite Systems, and Honda North America. Another redevelopment is being planned on the 110-acre campus that once belonged to Toyota and is a few blocks from Del Norte.
Senior Principal with Bascom, James D’Argenio, said that the company instantly went after this property when it came on the market, as the previous owner had done a great job in maintaining it. About 40% of the units are vacant and this gives the company the opportunity to renovate both these and the exterior of the property.
The Bascom Group is a private equity firm specializing in commercial and multifamily loans, along with real estate-related investments. Del Norte is the company’s 173rd property in California alone.
Brochure printing can be used by such companies to provide potential renters more information about such apartment units, their amenities, and the main features they can offer.
