Bascom Group Acquires 370-Unit Dallas Apartment Community After 2025 Foreclosure
Dallas, Texas, USA | September 21, 2026: The Bascom Group has acquired a 370-unit multifamily community in North Dallas, taking control of an apartment property that went through lender foreclosure in 2025.
The acquisition of Jasmine Apartments at 13450 Esperanza Road marks Bascom's 42nd acquisition in Texas and adds another established rental asset to the firm's North Texas portfolio.
370-Unit Jasmine Apartments Changes Ownership
Jasmine Apartments is located near the Richardson city line, along the Esperanza Road corridor close to Coit Road and Spring Valley Road.
The property was originally developed in the 1980s and contains 370 multifamily units.
Its recent ownership history makes the acquisition notable. The property was foreclosed on by its lender in 2025 before being acquired by Bascom.
The transaction therefore gives the new owner an opportunity to reposition an existing apartment community rather than develop a new property from the ground up.
North Dallas Location Connects Major Employment Hubs
Jasmine's location provides access to several major employment and commercial destinations across North Dallas.
Residents can reach areas including:
- Richardson
- Telecom Corridor
- Galleria
- Medical City
- Far North Dallas
- Broader North Dallas employment centers
The property's position near Coit Road and Spring Valley Road also provides access to established retail and daily-needs services.
Richardson ISD Adds to the Residential Appeal
The property falls within Richardson Independent School District (Richardson ISD).
The surrounding area includes established residential neighborhoods and retail corridors, including grocery-anchored shopping centers such as Spring Valley Crossing and Northwood Hills Village.
Restaurants, pharmacies and convenience retailers are also located nearby.
For multifamily properties, access to established schools, employment centers and daily amenities can be an important factor in attracting and retaining renters.
Why the Foreclosure History Matters
The acquisition highlights a segment of the multifamily market where investors can acquire properties after a lender takes control.
Properties coming through foreclosure can offer investors opportunities to acquire established housing assets and potentially improve operations, physical conditions or tenant positioning.
However, such acquisitions can also require additional capital for repairs, upgrades and property repositioning.
Jasmine's 1980s construction means the property's future performance will depend partly on how Bascom and its operating partners approach maintenance and improvements.
New Financing and Management Teams
The acquisition was financed through MORE Capital, an affiliate of Morgan Properties.
Northmarq's capital markets team arranged the debt financing, with Joe Giordani, Scott Botsford, Brendan Golding and Alvin Cao involved in the financing process.
RPM Living will manage the property, while SD-Cap will serve as construction manager.
Northmarq's Dallas investment sales team, including Taylor Snoddy and Eric Stockley, represented the lender seller.
Bascom Expands Its Texas Multifamily Footprint
Jasmine Apartments represents Bascom's 42nd Texas acquisition, underscoring the company's continued focus on the state's multifamily market.
North Texas remains a major rental housing market because of its employment base, population growth and extensive suburban development.
For investors, established properties in locations with strong connectivity can provide exposure to existing rental demand while offering potential opportunities to improve an asset's performance.
What Happens Next
Bascom will now take ownership of Jasmine Apartments, with RPM Living handling property management and SD-Cap overseeing construction-related work.
The property's next phase will likely focus on operations and any planned improvements following the foreclosure and ownership transition.
For North Dallas' rental market, the transaction adds another 370-unit community to an investment environment where buyers continue to target established multifamily properties near employment, schools and transportation corridors.