The Bascom Group completed the acquisition of The Strand from MBK Rental Living for $126m.

The Bascom Group, a private equity firm specializing in value-added multifamily, commercial, completed the acquisition of The Strand, an institutional-quality multifamily community from MBK Rental Living, a real estate development company that focuses on the development and management of multi-family residential projects, for $126m. "Oaktree is committed to identifying value opportunities and being a source of strategic liquidity to sellers and operators during this period of continued dislocation in the real estate cycle. The Strand acquisition enables Oaktree to leverage its existing vast multifamily platform and expertise to bridge a high-quality, newly delivered asset in a growing market to stabilization with a strong existing partner in Bascom," Jared Lazarus, Oaktree Real Estate Group Managing Director.