Bascom Refis Historic Apartments in LA’s Westlake District

The Bascom Group, LLC has completed an $8.5-million refinancing of The Charleston Apartments, a 133-unit historic multifamily community located in the Westlake neighborhood of Los Angeles.

Michael Derk, Daizy Gomez, Linsey Farrahi and Zack Metzner of Marcus & Millichap Capital Corporation arranged the debt financing on behalf of Bascom. The loan was provided by CalPrivate Bank, represented by SVP and senior relationship manager Anthony Lopo.

The Charleston Apartments, located at 729 S Union Ave.on the edge of Downtown Los Angeles, has a century-long history tied closely to the rapid modernization of Southern California. Built in 1924, the building has transitioned over the decades from a fashionable 1920s residence into a vital pocket of affordable housing in the Westlake/MacArthur Park district, Bascom said. Ingenious Asset Group, Inc., a Los Angeles property management & real estate firm that offers commercial and residential management & brokerage services, oversees property management at The Charleston.

If you’re reading about the multifamily industry, you should be in the room with its leaders. Connect Apartments brings together the executives featured in Connect CRE’s coverage for an afternoon of high-level insights and unmatched networking on September 22 at The Biltmore in LA.

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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).

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