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Bascom Group Forks Over $94M For Santa Ana's Villas At Tustin

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Villas at Tustin Apartments, Santa Ana, CA

The Bascom Group just bought the Villas at Tustin Apartments in Santa Ana for $94M, or $231,527/unit.

The 406-unit apartment community, at 2414 North Tustin Ave., includes a swimming pool, a fitness center and a spa.

The firm plans to upgrade the 45-year-old property, which is not far from South Coast Plaza, Multi-Housing News reports.

The Villas at Tustin Apartments had 98.5% occupancy last month, according to Yardi Matrix.

HFF senior managing directors Sean Deasy and Ryan Fitzpatrick listed the property.

HFF senior managing director Charles Halladay and associate Jamie Kline arranged a $66.5M loan with California Bank & Trust.