Jerome A. Fink And David Kim Acquire 183-Unit Castlewood Park Apartments For $53.13M

The 183-unit Castlewood Park Apartments, located at 6968 Campus Drive in Buena Park, CA, was sold for $53.1 million. This multifamily asset has a price per unit of $290,301, reflecting the strategic acquisition approach in a supply-constrained market.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $53,125,000
• Units: 183
• Buyer: Jerome A. Fink & David Kim - The Bascom Group
• Brokers: Kevin Green & Joe Grabiec - Institutional Property Advisors
• Lender: BrightSpire Capital
• Mortgage Brokers: Brian Eisendrath, Cameron Chalfant, Jesse Zarouk & Jake Vitta - Institutional Property Advisors

The acquisition aligns with The Bascom Group's strategy to target discounted multifamily assets, particularly in markets with limited supply. The deal is indicative of the current climate where institutional investors are cautious following a reset in sector pricing.