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California  + Orange County  + Apartments  | 

Bascom Acquires Buena Park Apartments as Value-Add Deal

The Bascom Group acquired Castlewood Park Apartments, a low-density, 183-unit value-add apartment community in Buena Park. The purchase price was $53,125,000, or $290,301 per unit.

Brian Eisendrath, Cameron Chalfant, Jesse Zarouk, and Jake Vitta of IPA Capital Markets arranged the acquisition financing, with Brightspire Capital, Inc. providing the acquisition loan. The IPA Investment Sales team led by Kevin Green and Joe Grabiec represented the undisclosed seller. AMC will provide property management services for the community, while SD-Cap will oversee the planned property renovations of the 1963-vintage community.

Lee Nguyen, SVP of operations for Bascom, said, “Castlewood already offers many of the features today’s renter values most, like large floorplans, garage parking, abundant green space, and private yards. By thoughtfully modernizing the community while preserving these unique characteristics, we believe Castlewood will continue to be a highly desirable housing option for North Orange County residents.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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