Deals

* The Bascom Group of Irvine acquired three apartment buildings in West Covina for nearly $52 million. The properties are the 258-unit Towne House Villas Apartments at 624 Glendora Ave., $22.8 million; the 250-unit Daisy Apartments at 851 S. Sunset Ave., $21.3 million; and the 100-unit Courtyards Apartments at 2817 E. Valley Blvd., $8 million. The new owners plan more than $4 million in capital improvements at Towne House Villas, more than $2.1 million at Daisy Apartments and $890,000 at the Courtyards property. Bascom was represented in-house in the three transactions by Jerome Fink, managing director, and Scott McClave, acquisitions director. The sellers of Towne House, Roy and Elda Herrerean, were represented by Frank D’Avanzo of Sunwest Investments. Sean Deasy of CB Richard Ellis represented the seller of the Daisy Apartments, Pacific Gulf Properties of Irvine, and the seller of the Courtyards Apartments, CT Realty Corp. of Newport Beach.

* Los Angeles-based Wedbush Morgan Securities, one of the region’s largest investment banks and brokerage firms, said it signed a 10-year, $26-million lease for 113,000 square feet of office space and building-top signs at 1000 Wilshire Blvd. in Los Angeles’ downtown financial district. The lease makes Wedbush Morgan--which previously leased 55,000 square feet at 1000 Wilshire--the primary tenant. Wedbush Morgan was represented by John Ghiselli of Julien J. Studley Inc. Anthony Gatti of Cushman & Wakefield represented the building’s owner, Sumitomo Life.

* Lyon Capital Ventures of Newport Beach acquired the 237-unit Pacific Pointe Apartments at Ximeno Street and Pacific Coast Highway in Long Beach for $17.5 million from Fowler Flanagan Partners and plans a major renovation of the property, said Sean Deasy, who headed a CB Richard Ellis team representing the seller. The buyer was represented in-house by J.E. Burns.