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Bascom Acquires 123-Unit MF in Costa Mesa for $33M
Sunset Cove Apartments, a 123-unit infill apartment community in Costa Mesa, CA, has traded hands. Irvine, CA-based The Bascom Group, LLC acquired the property for $33.3 million.
Bascom’s Chad Sanderson says, “Sunset Cove was a rare opportunity to acquire a core asset in a very desirable Orange County coastal market. This marks the third acquisition by Bascom’s fourth fully discretionary equity fund.”
Built in 1970, Sunset Cove is located at 425 Merrimac Way in the growing Westside Costa Mesa community, with access to key freeways including State Route 55, Interstate 405 and State Route 73. The property also offers a serene location near employment hubs like Irvine Business Complex, South Coast Metro, and Newport Center, as well as renowned retail venues like South Coast Plaza and Pacific City.
CBRE’s Brian Eisendrath, Annie Rice, and Brandon Smith arranged the debt financing. Berkadia’s Jim Fisher, Jeff Rowerdink, Joe Leon and Mike Smith brokered the sale.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
