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

August 30, 2024

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

AMC is a subsidiary of Advanced Real Estate Services, Inc., a real estate investment company founded in 1982 by Richard Julian and Frank Holloway. AMC maintains and operates nearly 12,000 multifamily units in Southern California. R³ is a leader and innovator in the construction industry, specializing in high-volume renovations for multifamily clients in Southern California. Find out more at amcliving.com or r3construction.com.

Advanced Real Estate Acquires 126-Unit Rowland Heights Community

June 5, 2026
Irvine, CA – Advanced Real Estate has acquired the 126-unit Casa La Paz apartment community in Rowland Heights, California. The property has been rebranded as “The Rowland” and will undergo a comprehensive renovation program including exterior improvements, upgraded interiors, and enhanced community amenities. The acquisition marks the fifth property acquired in the past 8 months by their most recent Investment Fund, Advanced Fund 24-3. The other properties include two luxury apartment towers totaling 393 units in Hollywood as well as 138 units in West Covina and 104 units in Santa Ana. The Hollywood acquisition in late April was the largest apartment purchase made by any firm so far this year in Southern California. Advanced’s portfolio now includes over 13,000 apartment units in Southern California with a market value of $5 billion. Originally developed as a long-term family-owned asset, the Rowland was acquired utilizing Advanced’s unique 721 tax-deferred “exchange and contribution” structure. Through this process, the former ownership group contributed the property into the fund in exchange for partnership interests in Advanced Fund 24-3. Some of those partners in the seller’s partnership preferred a cash payout, which Advanced provided at closing. “Many apartment owners want to preserve equity and defer taxes while still transitioning away from the inherent risks of ownership as well as the day-to-day management responsibilities,” said Richard Julian, CEO of Advanced Real Estate. “Our structure allows owners to contribute their property into a solid and diversified institutional-quality portfolio while maintaining investment participation for the long term. It’s a strategy we’ve successfully implemented across numerous acquisitions.” Located in the San Gabriel Valley, The Rowland benefits from strong regional demographics, proximity to major employment centers, and convenient access to retail, dining, and transportation corridors. Advanced plans to execute a comprehensive value-add renovation strategy designed to modernize the community and enhance the resident experience. “Rowland Heights represents a highly desirable suburban Southern California rental market because of its central location and strong long-term fundamentals,” said Paul Julian, President of Advanced real Estate and Richard’s son. “We see substantial upside by repositioning this property through thoughtful renovations and professional management while creating long-term value for both residents and investors.” Property management will be handled in-house by Advanced Management Company (AMC), while renovations will be administered through Advanced’s affiliated construction company, R3 Construction Services. Advanced has increasingly utilized its 721 exchange and contribution platform as an alternative exit strategy for multifamily owners seeking tax efficiency, estate planning flexibility, and continued real estate ownership participation without active operational responsibilities. To learn more about investing in, or selling to, Advanced Real Estate, please visit www.advancedrealestate.com .

Advanced Management Company Recognized Again as a USA TODAY and Orange County Top Workplace

May 1, 2026
IRVINE, CA, May 1, 2026: Advanced Management Company (AMC), a leading Southern California property management firm, is proud to announce that it has been named a USA TODAY Top Workplace for the second consecutive year. AMC has also been recognized as a Top Workplace in Orange County, marking its tenth year receiving this local honor.  These awards are especially meaningful because they are based on direct feedback from the team members who help shape AMC’s culture every day. Being named a USA TODAY Top Workplace two years in a row reflects a workplace where people feel valued, supported, and encouraged to grow. It also speaks of the care, commitment, and teamwork that AMC team members bring to their roles across the organization as it continues to grow. “Our mission is to be the most trusted team in apartment living, built on a legacy of happiness, teamwork, and limitless growth,” said Danielle Holloway McCarthy, President of AMC. “This recognition is a meaningful reflection of that mission and of the incredible people who bring it to life every day.” As AMC continues to grow its portfolio throughout Southern California to manage nearly 13,000 apartment homes, this recognition reinforces the company’s commitment to creating a positive team member experience. AMC supports its people through competitive wages and salary, a 401(k) with 3% employer matching, fully paid health insurance through Kaiser Permanente, life insurance, dental and vision coverage, Live Happy Time, paid holidays, paid sick time, and a paid birthday holiday. Team members are eligible for rental benefits and discounts at select AMC communities, and annual company events that celebrate wellness, connection, and achievement, including the Health and Wellness Expo, Company Picnic, and Tribute Awards. AMC also invests in long-term growth through AMC University, known as AMCU, a hands-on learning environment based at the company’s 50K sq ft headquarters in Irvine. Through multiweek internal certification courses, outside certification sponsorships, NAA, and thousands of hours of annual training in areas such as leasing, screening, maintenance, and financial management, AMC helps team members build skills, confidence, and rewarding careers. AMC extends its sincere gratitude to its entire team for helping make the company a nationally recognized Top Workplace and a continued standout in Orange County. AMC looks forward to building on this momentum and continuing to foster a workplace where people can Live Happy®!

Advanced Real Estate Goes Hollywood with Purchase of Luxury Towers

April 28, 2026
Irvine, CA – Advanced Real Estate (Advanced) has made Southern California’s largest multi-family buy of 2026, purchasing the 200-unit Columbia Square Living (now renamed “Sky Hollywood”) and the 193-unit Jardine Hollywood towers. These acquisitions bring the Advanced portfolio to almost 13,000 units in Southern California. The high-profile properties enjoy premium locations in the heart of the entertainment capital of the world. Sky Hollywood is situated a block south of Hollywood Boulevard at El Centro, and Jardine is located a block south of Sunset Boulevard at Ivar. They both offer luxury apartments with top-of-the-line amenities, including rooftop pools, large fitness centers, resident lounges, floor-to-ceiling windows, and luxury appliances. Each of the properties contains penthouses leasing from $12,000 to $20,000 per month. Current and past residents include film and television celebrities, social media influencers, professional athletes, and entertainment executives. Sky Hollywood and Jardine are two of only five apartment towers in Hollywood and make up over half of the stock of high-rise units. “With the World Cup and the Olympics coming to Los Angeles, along with movie and television production returning to the region, we feel the future looks bright for Hollywood. Entertainment is constantly changing, but Hollywood has stayed relevant in traditional media, social media, and technology,” said Paul Julian, President of Advanced. “Hollywood is one of the most recognized places in the world; no town has had a bigger influence on global popular culture. We’re honored to own these significant assets here.” This is the third acquisition for Advanced’s newest Opportunity Fund (Advanced Fund 24-3). They purchased “The Cove” in October, a 138-unit property in West Covina and Newhope Village, 104 units in Santa Ana late last year. They plan more Southern California apartment acquisitions in 2026. Advanced’s capital comes from their large “friends and family” network of investors. With a 45-year track record, they can raise significant funds to purchase some of the largest assets in Southern California. “Our business plan is to stay within our market where there are high barriers to entry and where we have a long history of operations,” said Rick Julian, CEO of Advanced. Property Management will be handled in-house by Advanced Management Company (AMC). They also plan cosmetic upgrades to the properties, which will be administered by their affiliated construction company, R³ Construction Services. The property was brokered by Blake Rogers, Senior Managing Director and National Multi-Housing Group Leader at JLL, Senior Director Dillon Bergum, and Managing Directors Alexandra Caniglia and Kip Malo of JLL Capital Markets. Kevin Mackenzie, President of JLL’s Capital Markets Group for the Americas, along with JLL’s Orange County-based Capital Markets team, including Senior Managing Director Greg Brown and Director Charlie Vorsheck procured two separate, uncrossed loans totaling $141.4 million from Freddie Mac. The loan has an attractive 5.17% rate, fixed for 10 years, with interest-only payments. About Advanced Real Estate Advanced was formed in 1981 and currently owns and operates nearly 13,000 apartment units throughout Southern California, with a market value of over $4.5 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 . About AMC Based in Irvine, CA, AMC is a subsidiary of Advanced Real Estate Services, Inc., a real estate investment company founded in 1982 by Richard Julian and Frank Holloway. AMC maintains and operates nearly 13,000 multifamily units in Southern California. Find out more at amcliving.com . To learn more about investing in or selling to Advanced, please visit www.advancedrealestate.com .