Bascom Group Targets Workforce Housing with 370-Unit Dallas Acquisition

Situated on Esperanza Road, the 1980-built community occupies a prime location near the Richardson city line. Its proximity to major employment hubs, including the Telecom Corridor and Medical City, combined with its placement in the high-performing Richardson Independent School District, positions the asset to attract families and young professionals. The transaction was facilitated by Northmarq’s Dallas investment sales team, with debt financing provided by MORE Capital.

This acquisition highlights a broader shift in the Texas real estate market. Between 2020 and 2025, the sector endured significant volatility as surging interest rates and an influx of new Class A supply pressured older, value-add assets. While institutional capital recently pivoted toward newer inventory, Bascom identifies a distinct opportunity in these vintage properties. By partnering with construction manager SD-Cap and property manager RPM Living, the firm intends to execute a turnaround strategy focused on physical upgrades and operational efficiency. Bascom principal Chang Liu emphasized that securing quality workforce housing remains vital for residents earning below the area median income, viewing the property’s current valuation reset as a compelling foundation for long-term growth.