Bascom Buys 183-Unit Orange County, Calif., Complex for $53M
The deal comes out to around $290,200 per apartment
By Greg Cornfield July 22, 2026 3:30 pm
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The Bascom Group has acquired a 183-unit apartment complex in Orange County, Calif., as the company expands its multifamily holdings this year in the Western U.S.
The Irvine, Calif.-based investment firm put down $53.1 million for Castlewood Park Apartments in Buena Park. The deal is equal to about $290,200 per unit.
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the deal after the brokerage’s Brian Eisendrath, Cameron Chalfant, Jesse Zarouk and Jake Vitta arranged the financing. IPA’s Kevin Green, Joe Grabiec and Gregory Harris represented the seller, which was not disclosed. Property records show Newcastle owned the property for more than 30 years.
IPA described Buena Park as one of the most supply-constrained submarkets in Orange County.
“Castlewood Park is the largest multifamily sale to transact in Buena Park and one of only eight $50 million-plus multifamily sales in north Orange County in the last 24 months,” Green said in a statement.
Built in 1963, Castlewood Park includes 46 buildings across 8.7 acres at 6968 Campus Drive, adjacent to Buena Park High School. The community features of two-, three- and four-bedroom apartments averaging 1,028 square feet.
It was renovated a few times from 2010 through 2023. Bascom plans to renovate apartment interiors, upgrade the property’s amenities, and add full-time on-site management.
Bascom said it has acquired 13 apartment communities totaling 3,231 units for more than $930 million since federal interest rates started rising after the pandemic. Earlier this year, Bascom acquired a 294-unit property in Las Vegas and a 289-unit in Tucson, Ariz.
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
