The Bascom Group has acquired Castlewood Park Apartments in Buena Park. The apartment community has 183 units spread across 8.7 acres. The company plans to renovate the property and enhance its amenities.
The Bascom Group Acquires Castlewood Park Apartments
The Bascom Group has completed its $53.125 million acquisition of Castlewood Park Apartments. The community is located in one of Southern California’s most active housing markets. This continues Bascom’s investment activity, despite a slower apartment real estate market.
Castlewood Park Apartments was built in 1963 and spans 8.7 acres. This is Bascom’s third apartment purchase of 2026. It follows purchases in Las Vegas and Tucson.
The company has acquired 13 apartment buildings since 2022. That is when interest rates began rising. Together, these buildings total more than 3,200 units. Castlewood Park Apartments adds to that count.
“Large investors have become more and more choosy toward older apartment buildings, creating good buying opportunities for experienced value-add operators,” said Chad Sanderson, Senior Principal at Bascom. “We believe well-located, older vintage buildings in Orange County are being discounted more than fundamentals justify. Castlewood represents an opportunity to acquire a durable workforce housing asset at an attractive basis in one of the strongest apartment markets in the country.”
Features of the Community
Castlewood Park Apartments has 46 buildings, offering two-, three-, and four-bedroom apartments. The average size of these apartments is 1,028 square feet. Every unit has a garage, and about 60% also have a private yard.
Other amenities include two swimming pools and a leasing office. Bascom will also add full-time on-site management to better serve residents.
Castlewood is located near Interstate 5 and State Route 91. This provides residents access to job hubs across Orange County and Los Angeles. The property is surrounded by established neighborhoods and newer residential development throughout Buena Park.
The acquisition further expands Bascom’s multifamily portfolio as the company continues investing in value-add apartment communities across the Southwest.
