Institutional Property Advisors Closes Sale and Arranges Financing for Orange County Multifamily Asset
July 16, 2026
BUENA PARK, Calif., July 16, 2026 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) dedicated to serving the company’s institutional clients, announced today the sale of Castlewood Park, a 183-unit multifamily property in Buena Park, California. The $53,125,000 sales price equates to $290,301 per unit.
“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,” said Kevin Green, IPA executive managing director. Green, Joseph Grabiec, and Gregory Harris of IPA represented the private seller, and procured the buyer, The Bascom Group. Brian Eisendrath, Cameron Chalfant, Jesse Zarouk, and Jake Vitta of IPA Capital Markets arranged acquisition financing.
“The acquisition of Castlewood Park, which has had the same owner/operator for over 30 years, gives the buyer an opportunity to complete a comprehensive renovation plan that can result in capturing significant upside in one of the most supply-constrained submarkets in Orange County,” added Grabiec.
Buena Park High School is adjacent to the property, the Source OC mixed-use development is a mile away, and shopping dining, and entertainment are nearby in Downtown Buena Park and at the Buena Park Mall. Proximity to Interstate 5 and California State Route 91 places residents within a 30-minute commute of over 3.75 million jobs. Knott’s Berry Farm, Disneyland, and California Adventure are in the vicinity.
Built in 1963 on nearly nine acres and renovated in 2010, 2018-2020, and 2023, Buena Park is located across 20 separate parcels at 6968 Campus Drive. Community amenities include two swimming pools, on-site laundry facilities, a playground, garages, carports, and surface parking spaces. The average floorplan size is 1,028 square feet.
“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,” said Kevin Green, IPA executive managing director. Green, Joseph Grabiec, and Gregory Harris of IPA represented the private seller, and procured the buyer, The Bascom Group. Brian Eisendrath, Cameron Chalfant, Jesse Zarouk, and Jake Vitta of IPA Capital Markets arranged acquisition financing.
“The acquisition of Castlewood Park, which has had the same owner/operator for over 30 years, gives the buyer an opportunity to complete a comprehensive renovation plan that can result in capturing significant upside in one of the most supply-constrained submarkets in Orange County,” added Grabiec.
Buena Park High School is adjacent to the property, the Source OC mixed-use development is a mile away, and shopping dining, and entertainment are nearby in Downtown Buena Park and at the Buena Park Mall. Proximity to Interstate 5 and California State Route 91 places residents within a 30-minute commute of over 3.75 million jobs. Knott’s Berry Farm, Disneyland, and California Adventure are in the vicinity.
Built in 1963 on nearly nine acres and renovated in 2010, 2018-2020, and 2023, Buena Park is located across 20 separate parcels at 6968 Campus Drive. Community amenities include two swimming pools, on-site laundry facilities, a playground, garages, carports, and surface parking spaces. The average floorplan size is 1,028 square feet.
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.