Updated Sep 18, 2026
David Kim Of The Bascom Group Secures $52M Refinance Loan For Cantera At Towne Lake Apartments
17807 Lakecrest View Drive
$52,000,000
Units
366
Asset Type
MultiFamily
Closing
Jun 25, 2026
About this deal
AI
The transaction involves the 366-unit Cantera at Towne Lake apartments located at 17807 Lakecrest View Drive in Cypress. The property is a multifamily asset and has undergone refinancing for financial optimization.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $52,000,000
- Units: 366
- Landlord: David Kim - The Bascom Group
- Brokers: Vincent Punzi & Lowell Takahashi - Newmark
- Loan Type: Refinance
- Market: Cypress
Newmark facilitated the refinancing transaction, which enables the owner, The Bascom Group, to return funds to investors while also allocating $4.4 million towards property enhancements aimed at increasing rental income in a competitive market.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93