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Title: The Bascom Group Acquires 183-Unit Value-Add Apartment Community In Buena Park, California For $53.125 Million

United States, 15th Jul 2026  - The Bascom Group, LLC ("Bascom") has acquired Castlewood Park Apartments, a low-density, 183-unit value-add apartment community in the highly desirable Orange County investment market of Buena Park, California. 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. The IPA Investment Sales team led by Kevin Green and Joe Grabiec represented the seller. AMC will provide property management services for the community, while SD-Cap will oversee the planned property renovations.Originally constructed in 1963, Castlewood Park Apartments offers many of the characteristics that are difficult to replicate in today's new developments. The community features spacious floorplans averaging 1,028 square feet, garages for every unit, and private yards for approximately 60% of residences. Spanning 46 buildings across 8.7 acres, the property's garden-style design and ultra-low density of just 21 units per acre create a neighborhood-like environment with abundant open space and minimal disturbances from neighboring units. The community consists entirely of two-, three-, and four-bedroom apartments and includes two swimming pools and a leasing center. These attributes provide residents with a compelling, lower-cost alternative to homeownership in one of Southern California's most supply-constrained housing markets.Bascom plans to elevate the property through interior renovations, amenity enhancements, and the addition of full-time onsite management to further improve the resident experience. Lee Nguyen, Senior Vice President of Operations for Bascom, stated, "Castlewood already offers many o...

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