AMC

Advanced Real Estate Acquires 104 units in Santa Ana

duncan.shea@appfolio.com (Appfolio Websites) — Tue, 02 Dec 2025 16:26:31 GMT

Irvine, CA – Advanced Real Estate has acquired the “Newhope Village,” apartments adding to its 12,000+ unit portfolio in Southern California.

“Newhope Village fits perfectly with our surrounding properties, we now have over 1,750 units in the City of Santa Ana” said Rick Julian, CEO of Advanced. “This creates even more efficiencies with management and renovations.”

Advanced plans for significant renovations and upgrades to the property, including the addition of in-unit washer and dryers, new cabinetry, flooring, fixtures, appliances, windows and a modern paint scheme. These upgrades will be completed by Advanced’s in-house construction company, R3 Construction and in-house property management company, Advanced Management Company.

The gated, podium-style property features a host of amenities including pool, fitness center and tot-lot.

This is the second acquisition for Advanced’s newest Opportunity Fund (Advanced Fund 24-3). They purchased “The Cove” last month, a 138-unit property in West Covina and they plan multiple other Southern California apartment acquisitions in the coming year.

“We were able to acquire this property through a 721 contribution which allowed a tax-deferred transaction for the family who owned it. They are now partners in our Fund and diversified amongst the other assets” said Paul Julian, Rick’s son and President of Advanced.

Advanced’s investment offerings are open to their “friends and family” network which has now grown to over 1,000 investors. “We are always open to welcoming new investors either through cash and retirement investments, or through a contribution of their property, like in this case with Newhope Village” continued Rick Julian.

Advanced retired a $9.5 million HUD loan and ultimately plans to place debt on the property providing even more capital to its $100 million+ Fund.

About Advanced Real Estate (Advanced)

Advanced was formed in 1981 and currently owns and operates over 12,000 apartment units throughout Southern California with a market value of over $4 billion. Advanced funds their investments with private equity. All property management and renovations are carefully administered through their in-house management and construction arms, Advanced Management Company and R3 Construction Services. This vertically integrated approach allows Advanced to most efficiently execute their business plan of acquiring value-add properties, renovating them to the highest standards, and then effectively managing them for the long term. To learn more about investing in, or selling to Advanced, please visit www.advancedrealestate.com .

Advanced Real Estate Purchases 138 Units in West Covina

duncan.shea@appfolio.com (Appfolio Websites) — Mon, 03 Nov 2025 17:23:34 GMT

Irvine, CA – Advanced Real Estate has paid $41 million to purchase “The Cove at West Covina,” adding to its 12,000+ unit portfolio in Southern California.

“The Cove is well-located with large units averaging over 1,000 square feet. It’s rare to find such an attractive unit mix for under $300,000 per unit.” Said Rick Julian, CEO of Advanced.

“West Covina has been a historically strong rental market with abundant retail and employment and very little new competing supply. The last significant new multi-family development was completed over 12 years ago.” said Paul Julian, Rick’s son and President of Advanced. “We see great value in this type of low-density product in the San Gabriel Valley.”

The gated property features a host of amenities including 2 pools with cabanas, fitness center, fire-pits, garages and a large open landscaped area.

This is the first purchase for Advanced’s new Opportunity Fund (Advanced Fund 24-3). They plan multiple other Southern California apartment acquisitions in the coming year.

Advanced’s investment offerings are open to their “friends and family” network which has now grown to over 1,000 investors. “We have a unique tax-efficient structure allowing investors to use their trapped retirement funds for the bulk of their investment and leverage a smaller personal contribution of cash,” continued Rick Julian. “We are always open to welcoming new investors.”

Advanced assumed a $21 million, Freddie Mac Loan, with a fixed interest rate of 4.75%, and full-term interest-only payments.

The sale was brokered by Shane Shafer, previously of Northmarq and now with Colliers.

About Advanced Real Estate (Advanced)

Advanced was formed in 1981 and currently owns and operates approximately 12,000 apartment units throughout Southern California with a market value of over $4 billion. Advanced funds their investments with private equity. All property management and renovations are carefully administered through their in-house management and construction arms, Advanced Management Company and R3 Construction Services. This vertically integrated approach allows Advanced to most efficiently execute their business plan of acquiring value-add properties, renovating them to the highest standards, and then effectively managing them for the long term. To learn more about investing in, or selling to Advanced, please visit www.advancedrealestate.com .

Advanced Real Estate Purchases the 210-Unit Canvas Apartments in Downtown Los Angeles

duncan.shea@appfolio.com (Appfolio Websites) — Fri, 30 Aug 2024 20:59:30 GMT

Irvine, CA – Advanced Real Estate has added another major multi-family asset to its growing portfolio. Canvas LA, a 210-unit property that sits along the 110 Freeway in Downtown Los Angeles was purchased for approximately $62 million.

“It’s rare to find such a well-built, podium property like this, for under $300,000 a unit.” Said Rick Julian, CEO of Advanced. “We haven’t seen that kind of pricing in over a decade.”

“The property has an ideal location across the street from Vista Hermosa Park. It’s only a 10-minute walk to all the cultural attractions of Bunker Hill including the Broad Museum, Walt Disney Concert Hall, Dorthy Chandler and Ahmanson Theater” said Paul Julian, Rick’s son and President of Advanced. “Trendy Echo Park, is also just over a mile away.”

Advanced plans only light renovations at the property as the previous owner had invested over $3 million into upgrades after purchasing it in 2018. The property features a host of unique amenities including a resort-style pool with cabanas, large gym with separate cardio studio, game room, conference and office space, screening room, and sky deck with fire-pit.

This was the final purchase for Advanced’s most recent acquisition Fund. That Fund also purchased Edison Long Beach, a 156-unit luxury residential high-rise, the 264-unit Surf House Apartments in Huntington Beach and the 714-unit The Grand Costa Mesa. These recent purchases made Advanced the largest buyer of apartments in Southern California in 2023.

“We are long-term holders and wanted to seize this low-basis opportunity. We see a bright future for Los Angeles with the upcoming 2028 Olympics” added the Julians. Advanced will now kick off a new Fund which will be open to their “friends and family” investors and looks to continue to strategically increase its current portfolio of over 12,000 units in Southern California. “Our investor base of over 1,000 families continues to grow as we find great opportunities such as Canvas”, continued Rick Julian.

The sale was brokered by Blake Rogers, Kevin Sheehan, Ryan Fitzpatrick, Chelsea Jervis, CJ Angle, Alexandra Caniglia, and Kip Malo of JLL Capital Markets. Advanced procured a $39,975,000 Freddie Mac loan, at a fixed interest-rate of 5.12% for 7 years, with full-term interest-only payments. Kevin MacKenzie, Greg Brown, Charlie Vorsheck, also of JLL Capital Markets arranged the financing.

About Advanced Real Estate (Advanced)

Advanced was formed in 1978 and currently owns and operates approximately 12,000 apartment units throughout Southern California with a market value of over $4 billion. Advanced funds their investments with private equity. All property management and renovations are carefully administered through their in-house management and construction arms, Advanced Management Company and R3 Construction Services. This vertically integrated approach allows Advanced to most efficiently execute their business plan of acquiring value-add properties, renovating them to the highest standards, and then effectively managing them for the long-term. To learn more about investing in, or selling to Advanced, please visit www.advancedrealestate.com .

Advanced Real Estate Acquires 68 Apartments and a 12,000 SF Commercial Building in Huntington Beach - Launching New “X Fund 24”

duncan.shea@appfolio.com (Appfolio Websites) — Tue, 28 May 2024 16:18:25 GMT

Irvine, CA – Advanced Real Estate (Advanced) has added another multi-family asset to its growing Orange County portfolio. Known as Beachpoint, the property consists of a 68-unit apartment building and a 12,000 square foot multi-tenant office building in Huntington Beach. Situated on Beach Boulevard, the Property is only a few miles from Huntington’s world-famous beaches and Harbor. Beachpoint is also near one of Advanced’s other recent purchases, a 264-unit community called Surf House. Most floorplans in the property are large two-bedrooms, two-bathrooms units that average 1,087 square feet. With a clubhouse, tennis court, two pickleball courts, large pool with sundeck, dog run and ample parking, Beachpoint provides amenities typically only seen on much larger properties.

According to Advanced, the property was well-maintained by the prior owner, but will receive the modern upgrades their firm is known for. Advanced plans new paint, signage, an amenities overhaul, and drive-entry enhancements. The interiors will get new flooring, fixtures, a contemporary paint-scheme and the addition of washers and dryers. The off-market transaction was brokered by Gary Tolfa from the Triqor Newport Beach office, with the loan being provided by Farmers & Merchants Bank.

Beachpoint was contributed by the current owner to Advanced’s “X Fund”. This new fund is a revolutionary alternative to the 1031 tax deferred exchange. Since August 2023, Advanced has joined together the owners of $75,000,000 of smaller properties. Advanced will ultimately sell this portfolio and orchestrate a 1031 tax deferred exchange into much larger and more efficient properties. Advanced is accustomed to owning large-scale properties as their portfolio includes several 400–750-unit apartment communities in Southern California.

“After purchasing over 12,000 units during the past 40 years, we have learned how much more profitable and efficient larger properties are than smaller properties. Further, the larger the property, the less competition when purchasing. This allows our investment groups to start with a lower basis,” said Paul Julian, President of Advanced. With the X Fund, private owners can now enjoy the benefits of an investment scale normally limited to major institutional investors.

“We saw a swelling need in the market for investors to move out of their active property ownership and into a passive role in larger-scale properties with higher returns. This shift also rids the investor of the management and liability of owning their own properties. Prior to the X Fund, owners faced hefty taxes if they sold. These owners had to choose between selling their property and paying a major share of the proceeds in taxes or completing their own 1031 exchange. If they chose the latter, they ended up with a larger headache and even more liability,” said Rick Julian, CEO of Advanced. “The 1031 exchange process is very risky because it is difficult to find a suitable exchange in 45 days. If you have already sold your property and cannot find that exchange, you are stuck with the massive tax hit!”

With the X Fund, there is no sales process. Instead, investors simply contribute their property, tax-free, into the X Fund in exchange for limited partnership shares. With one simple transaction, an investor transforms from being a single property owner, to a partner in a professionally managed, diversified portfolio of properties. At that point, the investor’s responsibilities and liabilities are eliminated. They will have a cash flow stream that continues indefinitely, while enjoying large periodic cash distributions through tax-free refinances. Most importantly, the investor is in a partnership with a well-capitalized, vertically-integrated operator with a proven 40-year track record of owning and operating a sizeable Southern California multifamily portfolio.

“Advanced acquired three large Apartment communities in 2023 including the 156-unit “Edison” in Long Beach, the 264-unit “Surf House” in Huntington Beach, and the 714-unit “The Grand” in Costa Mesa. The Grand was the largest multifamily property transacted in Southern California in 2023 and the 6 ^th largest in the nation. These larger properties are what the X Fund will hold indefinitely,” said Julian.

This is the first property acquisition from the current Advanced X Fund 24, which will be closing its acquisition period on December 31 ^st , 2024. Advanced will consider all property types and locations throughout the United States for the assets to be contributed into the Fund. These include multifamily, industrial buildings, retail centers, and even rental homes.

About Advanced

Advanced was formed in 1978 and currently owns and operates over 11,500 apartment units in Southern California with a market value of over $4 billion. Advanced funds their investments with private investors, whom they refer to as “Friends and Family.” Property management and renovation are carefully administered through their in-house management and construction arms. This vertically integrated approach allows Advanced to efficiently execute their business plan, of acquiring value-add properties in Southern California, renovating them to the highest standards, and then effectively managing them for the long-term. To learn more about Advanced please visit www.advancedrealestate.com .

Advanced Real Estate Closes New “X Fund” - Adding 15 New Properties

duncan.shea@appfolio.com (Appfolio Websites) — Mon, 22 Apr 2024 18:25:28 GMT

Advanced Real Estate (Advanced) has created a revolutionary new alternative to the 1031 tax deferred exchange, called the X Fund.

Since August 2023, Advanced has joined together the owners of $50,000,000 of smaller properties. Advanced will ultimately sell this portfolio and orchestrate a 1031 tax deferred exchange into much larger and more efficient properties. Advanced is accustomed to owning large-scale properties as their portfolio includes several 400–750-unit apartment communities in Southern California.

With the X Fund, there is no sales process. Instead, investors simply contribute their property, tax-free, into the X Fund in exchange for limited partnership shares. With one simple transaction, an investor transforms from being a single property owner, to a partner in a professionally managed, diversified portfolio of properties. At that point, the investor’s responsibilities and liabilities are eliminated. They will have a cash flow stream that continues indefinitely, while enjoying large periodic cash distributions through tax-free refinances. Most importantly, the investor is in a partnership with a well-capitalized, vertically integrated operator with a proven 40-year track record of owning and operating a sizeable Southern California multifamily portfolio.

Since its successful launching of Advanced X Fund 23 in August 2023, Advanced will now open a new X Fund each year, starting with Advanced X Fund 24 set to launch this month. Advanced will consider all property types and locations throughout the United States for the assets to be contributed into the Fund. These include multifamily, industrial buildings, retail centers, and even rental homes.

About Advanced

Advanced Purchases 714-Unit Property in Record So Cal Apartment Deal

Thu, 28 Dec 2023 21:42:14 GMT

Advanced Purchases 714-Unit Property in Record So Cal Apartment Deal

Irvine, CA – Advanced Real Estate “Advanced” has added another major multi-family asset to its growing Orange County portfolio. The massive 714-unit apartment community is located across the street from Orange Coast College, two miles from South Coast Plaza, and only four miles from the world-famous harbors and beaches of Newport and Huntington. Advanced is rebranding the property as “The Grand Costa Mesa” and has budgeted $45,000,000 to transform the community into one of the most desirable properties in the area. This is the largest single apartment property to sell in Southern California and the second largest in the State of California in 2023.

“Very few large properties trade in Orange County, especially in a premier location like Costa Mesa” said Advanced CEO, Rick Julian. “The barriers to entry and replacement costs are so high, an asset like this can’t be duplicated at this basis, even with the extensive capital proposed for renovations.”

According to Advanced, the property will undergo an extensive transformation, with resort style pools and spas, a re-imagined club house, expansive dog park along with several gathering and BBQ areas. Washers and dryers will be added to every unit, and the interiors will be modernized with new cabinetry, countertops, flooring, fixtures, and contemporary paint-scheme. The renovations will be completed by Advanced’s in-house renovation firm, R3 Construction Company. Property management will be handled by their in-house, Advanced Management Company (AMC).

JLL Capital Markets represented the seller, and represented Advanced to secure a $150,800,000 Freddie Mac loan, at a fixed interest-rate of 5.95% for 10 years, with full-term interest-only payments. The loan will be serviced by JLL Real Estate Capital, LLC, Freddie Mac Optigo℠ lender. The Investment Sales Advisory was led by Senior Managing Director Blake Rogers, Managing Director Ryan Fitzpatrick, Directors Chelsea Jervis and CJ Angle and Associates Carter Jones and Audrey Souders. The JLL Capital Markets Debt Advisory Team was led by Executive Managing Director Kevin Mackenzie, Senior Managing Director Greg Brown, Director Charlie Vorsheck and Analyst Kyle White.

This is the third 2023 property acquisition by Advanced, who also purchased the Edison Apartments in downtown Long Beach on March 31 ^st , 2023. The Edison is a 12-story former high-rise office building, converted to luxury apartments. They also purchased the 264-unit, Surf House Apartments in Huntington Beach in September. With these acquisitions, Advanced was the most active buyer of apartments in Southern California in 2023.

“We couldn’t have asked for three more prime assets to add to our Southern California Portfolio this year” added Paul Julian, Rick’s son and President of Advanced. “The Edison, Surf House and The Grand are all in coastal locations with terrific freeway access and surrounded by irreplaceable amenities and commerce.”

The nearly 12,000 apartment units owned and operated by Advanced are all located in Southern California. “This allows us to efficiently manage and renovate our assets. It also mitigates the risks associated with buying out of State” continued Paul Julian.

Advanced is unique in that their funds come from private investors; they don’t utilize institutional capital. Rick Julian added, “We raise all capital from “friends and family” investors. This group has now grown to almost 1,000. We allow them to use their retirement funds in a creative structure which has provided our investors exceptional returns.” Advanced is a long-term holder of their assets and returns capital to their investors through cash-flow and periodic refinancing. Advanced is actively looking for more properties to purchase or to absorb into their growing portfolio through creative contribution structures.

About Advanced Real Estate (Advanced)

Advanced Real Estate Services, Inc. was incorporated in 1984 and currently owns and operates nearly 12,000 apartment units throughout Southern California with a market value in excess of $4 billion. Advanced Real Estate funds their investments with private equity. All property management and renovation are carefully administered through their in-house management, Advanced Management Company, and construction arms, R ³ Construction Services, Inc. This vertically integrated approach allows Advanced Real Estate to most efficiently execute their business plan of acquiring value-add properties, renovating them to the highest standards, and then effectively managing them for the long-term. In 2023 Advanced Real Estate introduced its newest exchange opportunity fund, The X Fund. It was designed to allow existing owners of smaller properties to contribute their properties, tax-free, into a larger property Fund. It is a simple, easy, and more profitable alternative to a 1031 exchange. To learn more about Advanced Real Estate please visit www.advancedrealestate.com .

Advanced Makes a Splash in Huntington Beach with $96 Million Purchase

duncan.shea@appfolio.com (Appfolio Websites) — Fri, 01 Sep 2023 16:15:13 GMT

Advanced Makes a Splash in Huntington Beach with $96 Million Purchase

Irvine, CA – Advanced Real Estate Services, Inc. has added another major multi-family asset to its growing Orange County portfolio. Formerly known as Citron House, the new acquisition is in Huntington Beach, on Warner Avenue just west of Beach Boulevard. The 264-unit apartment community is two miles from the Bella Terra Mall, close to Huntington’s world-famous beaches, and Huntington Harbour. Advanced Real Estate Services, Inc. is rebranding the property as “Surf House” and has budgeted $7,000,000 to transform the asset into one of the most desirable properties in the area. This method of purchasing assets, adding value through renovations and quality management, then holding long-term, has been a successful approach for Advanced Real Estate Services, Inc. for over four decades.

“Very few large properties trade in Orange County, especially in a coastal city like Huntington Beach” said Advanced Real Estate CEO, Rick Julian. “The barriers to entry and cost to replace are so high, that it would be impossible to duplicate this low-density asset.”

According to Advanced Real Estate, the property will be given an exterior facelift with new windows, balcony upgrades, paint, pool area overhaul (including the addition of large cabanas), new signage, and drive-entry enhancements. The interiors will be modernized with new cabinetry, countertops, flooring, fixtures, and a contemporary paint-scheme. The renovations will be completed by Advanced Real Estate Services, Inc. in-house renovation Company, R3 Construction. Property management will be handled by their in-house management company, Advanced Management Company (AMC).

In the transaction, Advanced Real Estate assumed an approximately $53,000,000, Freddie Mac loan, which has a remaining term of approximately 1.5 years and bears interest at 4.22%. “We plan to complete as much of the renovation as possible while the existing loan is in place. The plan is to refinance with a larger loan in 2025 and use the excess proceeds to purchase more assets” stated Julian.

This is the second property acquisition from the current Advanced Fund 21-2, which also purchased the Edison Apartments in downtown Long Beach on March 31st, 2023. The Edison is a 12-story former high-rise office building, that was converted to luxury apartments in 2016.

“After the Surf House purchase, we still have over $100,000,000 of remaining discretionary capital in this Fund before starting our next Fund. We are diligently searching for additional acquisition opportunities here in Southern California” added Paul Julian, Rick’s Son and President of Advanced Real Estate.

All the nearly 11,000 apartment units owned and operated by Advanced are located in Southern California. “This allows us to efficiently manage and renovate our assets. It also mitigates any risks of buying out of State” continued Julian.

The sale was brokered by Geoff Boler, Johnathan Merhaut and Eugene Chong from the Newport Beach office of Eastdil Secured.

About Advanced Real Estate Services, Inc.

Advanced Real Estate Services, Inc. was incorporated in 1984 and currently owns and operates nearly 11,000 apartment units throughout Southern California with a market value of over $4 billion. Advanced Real Estate funds their investments with private equity. All property management and renovation are carefully administered through their in-house management, Advanced Management Company, and construction arms, R ³ Construction Services, Inc. This vertically integrated approach allows Advanced Real Estate Services Inc. to most efficiently execute their business plan of acquiring value-add properties, renovating them to the highest standards, and then effectively managing them for the long-term. To learn more about Advanced Real Estate please visit www.advancedrealestate.com .

Advanced Real Estate Purchases Long Beach High-Rise

Tue, 25 Apr 2023 14:35:00 GMT

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Advanced Real Estate Services Acquires 120-Unit Multifamily Property in Riverside

Tue, 28 Mar 2023 08:20:00 GMT

Advanced Real Estate Services Acquires 120-Unit Multifamily Property in Riverside

July 21, 2020

Advanced Real Estate Services Inc (ARES) has been busy during the past four months, having acquired a new multifamily asset while also completing refi loans on five others along with forming a new investment fund.

In Riverside, ARES purchased a 120-unit multifamily property for $25.85 mil, or $215.4k/unit. The property is located at 3900 Fir Tree Dr, about a mile east of the firm’s 777-unit Corona Pointe Resort Apartments.

The new acquisition is located in the City of Riverside about a mile east of their 777-unit Corona Pointe Resort Apartments. Previously named “Sierra Pines”, ARES has re-branded the asset as “The 3900 Apartments.” ARES plans to spend over $6 mil on a complete renovation of the property.

The property was built in 1985 and spread over 2.5 acres near the corner of La Sierra and Magnolia Ave. Along with upgrading the units, ARES plans to enhance the existing amenities which include a pool, spa, tennis courts, clubhouse, and grassy open space.

The sale was brokered by Margie Molloy and Bruce Funiss of Berkadia Real Estate Advisors, who repped both parties in the deal. ARES obtained an acquisition loan from Commercial Bank of California.

“This new acquisition is located in the Inland Empire, which has recently been one of the top performing rental markets in the Country.” said ARES Co-Founder and President, Richard Julian. “This is our second recent acquisition there, bringing us to nearly 1,400 units in that sub-market.”

This is not the only asset ARES plans to purchase in the coming months. They just completed a refinance pool of five properties for approximately $204 mil through Freddie Mac. Mike Elmore with Northmarq Capital arranged the financing.

ARES plans to use the proceeds from the refinancings to create a fund to buy additional multifamily assets. It is estimated the fund will be between $150 mil to $250 mil when closed out later this year.

“As we have done for almost 40 years, we will be targeting multifamily assets in Southern California” said Julian. “The only difference from how we have operated in the past, is that we will be using a fund structure rather than raising the equity on a single asset basis. We will look to buy a mix of value-add and core properties. We feel this discretionary fund will give us a competitive advantage in the tight, Southern California market.”

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Axis 2300’s Rare Large Units Entice Advanced Real Estate

Thu, 11 Mar 2021 00:37:00 GMT

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ARES – Stadium House Acquisition

Mon, 28 Sep 2020 19:19:00 GMT

ARES – Stadium House Acquisition

July 16, 2018

ARES Acquires High-Profile Property at the Doorstep of Angel Stadium

Irvine, CA – Advanced Real Estate Services, Inc. (ARES) has completed the purchase of a 251 unit mixed-use property in the Platinum Triangle. The property sits directly across the Street from the Grove Theater just outside the parking lot of Angel Stadium. At the base of the 6-story building is “The Catch” restaurant which has been a landmark in Orange County since 1978. Originally designed and built as Condominiums in 2009, the property features large modern units averaging over 1,200 square feet and an abundance of amenities including a 6th floor entertainment deck overlooking the Stadium.

Richard Julian, President of ARES stated, “We are excited about adding this asset to our portfolio in Anaheim. Our goal is to complete cosmetic upgrades so we can continue to compete with the new product currently being delivered. We feel we have an advantage as this asset is the most well located in the submarket and the units are much larger than the competition.”

ARES plans a complete re-branding of the property to “Stadium House” and will spend over $5.3 million in upgrades. The improvements will be focused on the leasing office, fitness center, pool area, clubhouse, dog park, courtyards, elevators & lobbies. A new shared work space will also be created for residents who work from home to have access to professional offices and conference facilities. The interiors will receive new flooring, paint and technology features. The 6th floor entertainment deck will be completely overhauled so that residents can enjoy the breathtaking views, game days, events and fireworks from Angel’s Stadium.

“We plan to work with The Catch restaurant to host catered events on our 6th floor deck. We will install ovens, beer taps, refrigerators and other kitchen equipment so that the deck can be an extension of their restaurant on game days. We are also in discussions with The Catch and Flame Broiler to provide room service to our residents. These services and amenities will create a hotel-like atmosphere at the property” added Julian.

The Stadium House property should benefit from the increase in commercial development in the Platinum Triangle market. LT Global has announced they have plans to start construction on their transformative development (directly across the stadium parking lot) as soon as the end of this year. This project will include retail, hotel and residential uses. Also, one block away, Lennar is under construction on their “A Town” development which will include approximately 50,000 additional square feet of retail development.

The seller of this property was represented by Sean Deasy and Ryan Fitzpatrick of HFF’s Newport Beach Office. Mike Elmore of Nortmarq Financial procured a $67.5 million Fannie Mae loan on behalf of ARES.

“We raised over $50 million of private equity for this acquisition. A large piece of that came from the refinance of 4 of our other nearby properties” added Julian.

Advanced Real Estate Services, Inc. (ARES) was formed in 1982 and currently owns and operates over 8,250 units throughout Southern California with a market value in excess of $2 billion. ARES funds their investments with private equity and handles all property management and renovation in-house. This vertically integrated approach allows ARES to most efficiently execute their business plan of acquiring value-add properties in Southern California, renovating them to the highest standards, and then effectively managing them for the long-term. To learn more about ARES please visit www.advancedonline.com.

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Advanced Real Estate Services Buys 194 Res Units in Ontario

Mon, 28 Sep 2020 19:18:00 GMT

Advanced Real Estate Services Buys 194 Res Units in Ontario

April 22, 2019

Advanced Real Estate Services Inc (ARES) has completed the purchase of 194 units in Ontario from TruAmerica Multifamily. The property, Mountain Summit, sits just south of I-10, on the western edge of the city. Formerly a condominium project, ARES is buying 194 of the 199 units.
“We are very bullish on the inland Empire market. It has been one of the top performing regions in the nation over the past few years. Job growth continues to escalate, yet multi-family construction is not keeping pace,” stated Richard Julian, President of ARES. “We have no plans to sell this property, so there is a good chance we will acquire the remaining five units in the coming years and obtain control of the entire project,” Julian added.

ARES plans to re-brand the property to “West Fifth Apartments” and will spend over $5.5 mil in upgrades. The improvements will be focused on new roofs, windows, paint scheme and interior unit upgrades, including the addition of washer and dryers. Most of the common areas have already been upgraded but will receive some additional enhancements.

“We own a 116-unit building in Montclair on the same street and less than a mile and a half from this property. With our current upgrades, we have been able to achieve more than a $200 premium in monthly rents from what Mountain Summit is achieving today” stated Julian.
The West Fifth Apartments should benefit from the robust expansion of the Inland Empire. It is currently ranked third in the United States for population growth and has averaged 5.9% in rent growth over the past three years.

The seller in the transaction, TruAmerica Multifamily, was represented by Jim Fisher, Jeff Rowerdink and Mike Smith of Berkadia. Mike Elmore of Nortmarq Financial procured a $27.9 mil Freddie Mac loan on behalf of ARES.

“We were able to accommodate some of our investors who were completing 1031 tax-deferred exchanges out of different properties into this as TIC members. In all, we raised around $22 mil of private equity for this acquisition and renovation. Over the past year, we refinanced a portfolio of over $260 mil creating a large “war chest” of funds for further acquisitions, Julian stated.

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ARES Buys 235 Units in Long Beach

Mon, 28 Sep 2020 19:17:00 GMT

ARES Buys 235 Units in Long Beach

October 2, 2019

Advanced Real Estate Services has acquired a 235-unit apartment property in Long Beach. The investor plans to rebrand the property as The Circle Apartments at Long Beach, and will invest an additional $6 million on capital improvements for the property.

https://www.globest.com/2019/09/24/ares-buys-235-units-in-long-beach/

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Advanced Real Estate Services Inc Buys 235-Unit Multifamily Property in Long Beach

Thu, 03 Oct 2019 19:17:00 GMT

Advanced Real Estate Services Inc Buys 235-Unit Multifamily Property in Long Beach

October 3, 2019

Advanced Real Estate Services Inc (ARES) has acquired a 235-unit apartment building in Long Beach. The property, Alvista Long Beach” is located at 1718 Ximeno Ave, in the “Traffic Circle” area near California State University, Long Beach and about two miles south of the Long Beach Airport.

ARES plans to re-brand the property “The Circle Apartments at Long Beach” and will spend over $6 mil in upgrades. The improvements will be focused on new windows, pool area upgrades, added business center and paint scheme. Interior unit upgrades will include new flooring, paint, fixtures, and smart locks. Some non-renovated units will also receive new cabinets and countertops. The property has three pools, a fitness center, and lounge.

“The Circle is in an ideal rental location as it provides easy access to jobs, retail, a major University, and the 405 Fwy,” noted Richard Julian, President of ARES. “Although Long Beach is seeing an increase of new apartment development, the “Traffic Circle” submarket has seen almost no new supply in decades.”

Long Beach’s location between the burgeoning business hubs of Coastal LA and OC make it an attractive market for multi-family investors. It is also one of only three large cities in the state that has a waterfront location and significant transportation infrastructure. Further, it is home to the busiest port in the nation.

Kevin MacKenzie and Greg Brown from JLL’s Newport Beach office arranged a $46.8 mil, 3.41%, 10-year, interest-only, Freddie Mac loan on behalf of ARES for this property.

http://www.rentv.com/content/multifamily/mainnews/news/25744

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Advanced Real Estate Services Buys 115 Units in Irvine

duncan.shea@appfolio.com (Appfolio Websites) — Thu, 11 Mar 2010 00:31:42 GMT

Essex Sells Axis 2300 Property for $57.5 Million

Advanced Real Estate Services, an owner and operator of residential properties throughout Southern California, acquired the Axis 2300 multifamily building at 2300 Dupont Drive in Irvine, California, for $57.5 million, or about $500,000 per home, from Essex Property Trust.

The 170,714-square-foot property was originally built as for-sale residential condominiums, but Essex purchased the development and decided instead to rent them out as apartments. The property features a swimming pool with cabanas and a clubhouse, tenant fitness center as well as a business center. It is located near office and entertainment properties and about one mile away from John Wayne Airport.

“We are excited about this unique asset that contains condo-quality apartment units averaging approximately 1,500 square feet. It is rare to find a property in such an ideal location with such large units,” Richard Julian, CEO of Advanced, said in a corporate statement announcing the sale.

Advanced financed the acquisition in-part with a combination of final exchange funds from its recent sale of a Huntington Beach mobile home park and its private equity fund, in addition to securing a new $29 million loan from Fannie Mae. Mike Elmore and Alex Kane of NorthMarq arranged the financing on behalf of the borrower.

Jeff Rowerdink and Joe Leon with Berkadia Real Estate Advisors represented both the buyer and the seller in the sale.

Please see CoStar COMPS #5415682 for additional information on this transaction.