Axton Management: The Axton Group, Bascom Divest of Two Colorado Springs Apartment Complexes for $74.1M

COLORADO SPRINGS, COLO. - An affiliate of the Axton Group and the Bascom Group have divested two multifamily complexes in Colorado Springs for a total of $74.1 million. The sale includes the 374-unit Park at Penrose and the 112-unit Park at Palmer. The communities are located at 3802 and 3903 Half Turn Road, respectively. Formerly known as Summer Grove and Tanglewood, the Axton/Bascom partnership purchased the properties for $41.2 million in June 2019. The companies then completed a multi-year renovation program to upgrade the apartment units and community amenities. The post The Axton Group, Bascom Divest of Two Colorado Springs Apartment Complexes for $74.1M appeared first on REBusinessOnline.