The Bascom Group completes $8.5 million refinancing of historic Charleston Apartments in Downtown Los Angeles

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The Charleston Apartments at 729 S. Union Avenue in Los Angeles.

Financing supports Bascom's continued ownership of the 133-unit historic multifamily property in Los Angeles' Westlake neighborhood.
IRVINE, Calif. - August 28, 2026 - The Bascom Group, LLC ("Bascom") has completed an $8.5 million refinancing of The Charleston Apartments [https://www.bascomgroup.com/], a 133-unit historic multifamily community located in the Westlake neighborhood of Los Angeles, near Downtown Los Angeles.

Michael Derk, Daizy Gomez, Linsey Farrahi, and Zack Metzner of Marcus & Millichap Capital Corporation (MMCC) arranged the debt financing for Bascom. CalPrivate Bank provided the loan, represented by Senior Vice President and Senior Relationship Manager Anthony Lopo. Ingenious Asset Group, Inc., a Los Angeles-based property management and real estate firm, oversees property management.

Located at 729 S. Union Avenue, The Charleston Apartments is a four-story multifamily property originally constructed in 1924. The building was originally known as the Sonora Apartments before later becoming The Charleston. The property contains 133 apartment units and retains architectural features associated with its original construction, including its U-shaped layout, vintage elevator, and brick exterior.

The property is located in the Westlake area near Downtown Los Angeles, Koreatown, major employment centers, retail, dining, and public transportation. The location provides access to major transit corridors and destinations throughout the Los Angeles region.

The Charleston Apartments primarily consists of compact apartment units and provides residents with features including elevator access and other property amenities. The building has served as multifamily housing in the Westlake community for decades.

"We are very pleased with the outcome of this refinancing, particularly given today's challenging debt market environment," said Jim Singleton, Principal at Bascom. "The successful execution of this financing supports our continued ownership and investment in The Charleston Apartments."

"We appreciate the efforts of Michael Derk, Daizy Gomez, Linsey Farrahi, and Zack Metzner at MMCC in securing a financing solution that supports our long-term investment objectives," said Lee Nguyen.

The refinancing follows Bascom's continued investment in multifamily properties across the United States.

About The Bascom Group

The Bascom Group, LLC is a minority-owned private equity firm specializing in value-added multifamily, commercial real estate, non-performing loans, and related investments and operating companies. Since 1996, Bascom has completed more than $23 billion in multifamily value-added transactions encompassing 368 multifamily properties [https://www.bascomgroup.com/] and more than 94,272 units. The firm's commercial transaction volume totals approximately $5.8 billion and more than 23.4 million square feet.

Bascom was founded by principals Derek Chen, Jerry Fink, and David Kim. The firm's subsidiaries and joint ventures include Bascom Value Added Apartment Investors, Shubin Nadal Associates, Spirit Bascom Ventures, REDA Bascom Ventures, Bascom Northwest Ventures, Bascom Arizona Ventures, Harbor Associates, Village Partners Ventures, Realm Group, Consolidated Real Estate Strategies, Meridian Bascom Ventures, and BG Pearce. Bascom's subsidiaries also include Premier Workspaces. For additional information, please visit bascomgroup.com.
Media Contact
Company Name: The Bascom Group, LLC
Contact Person: Jim Singleton
Email: Send Email [http://www.universalpressrelease.com/?pr=the-bascom-group-completes-85-million-refinancing-of-historic-charleston-apartments-in-downtown-los-angeles]
Phone: 949-955-0888 Ext. 116 | C 310-995-4835
Address:7 Corporate Park, Suite 100 Irvine, CA 92606
City: Irvine
State: CA 92606
Country: United States
Website: http://www.bascomgroup.com

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This release was published on openPR.