Image via phoenix-townhomes.com

An Irvine-based firm has purchased Phoenix Townhomes, a 248-unit condominium-style apartment community in Fresno.

The purchase, which was announced Wednesday morning, was made by The Bascom Group, LLC, of Irvine in collaboration with Maryland-based Artemis Real Estate Partners at a cost of $35 million, or $141,129 per unit.

“Phoenix Townhomes is an extremely well-located property with convenient access to strong employment centers, schools and numerous retail and entertainment options,” said Jim Singleton, senior vice president and principal for Bascom, in a statement. “The Fresno market continues its healthy growth led by strong employer investment by companies seeking to take advantage of Fresno’s low cost of living and relative affordability, with several ongoing and planned development projects estimated to bring over 3,600 jobs to the area.”

Phoenix Townhomes is located in the northern Fresno submarket, situated near West Shaw Avenue and between Marks and Brawley avenues.