AMC

Advanced Real Estate Goes Hollywood with Purchase of Luxury Towers

Tue, 28 Apr 2026 22:23:55 GMT

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 .

Advanced Real Estate Acquires 104 units in Santa Ana

Wed, 03 Dec 2025 16:31:10 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 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 12,000 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 .

Advanced Real Estate Purchases 138 Units in West Covina

Mon, 03 Nov 2025 19:18:28 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 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 12,000 multifamily units in Southern California. Find out more at amcliving.com .

AMC Team Members and Families Come Together for 2025 Seal Beach Cleanup

Sat, 23 Aug 2025 23:53:06 GMT

The Live Happy Project brings team spirit and community care to the shoreline

SEAL BEACH, Calif. (August 23, 2025) – AMC team members and their families gathered at the Seal Beach Pier this past Saturday to roll up their sleeves and make a positive impact on the local shoreline. Organized through The Live Happy Project, an AMC employee run and funded initiative, the beach cleanup brought together dozens of volunteers united by a shared commitment to care for the environment and support the communities we serve.

In line with AMC’s Live Green philosophy and sustainability initiatives, volunteers used compostable gloves and trash bags during the event, ensuring the cleanup itself reflected environmentally responsible practices. Despite an overcast morning, the energy was bright as volunteers collected litter from the pier parking lot and surrounding stretch of beach. Families worked side by side, demonstrating the power of teamwork and the joy of giving back together. The group wrapped up just in time to avoid a passing rain shower—leaving the shoreline cleaner, safer, and more welcoming for all who visit.

AMC President Danielle McCarthy remarked, “At AMC, we believe that every community is enriched when its members lend a hand, especially in the places we all share and love. The Live Happy Project is one way we honor that belief — by making tangible improvements, and doing so together.”

The Seal Beach Cleanup is part of a broader series of community initiatives hosted by The Live Happy Project. Earlier this summer, the program organized the Annual Backpack Drive supporting local families, and it is already preparing for the Thanksgiving Dinner Donation this November. By taking part in projects that protect natural spaces, AMC team members continue to bring The Live Happy Project to life—making a difference through small, collective actions that create a lasting impact.

For more information about AMC and The Live Happy Project, please visit www.amcliving.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 12,000 multifamily units in Southern California. Find out more at amcliving.com .

Advanced Management Company Wins Prestigious Industry Awards Recognizing Excellence in Workplace Culture and Property Management

Wed, 18 Jun 2025 20:50:42 GMT

Advanced Management Company (AMC) has earned national and regional recognition with five top awards for workplace excellence and property management leadership.

Irvine, CA - July 16, 2025

Advanced Management Company (AMC), a leading property management company based in Irvine, California, is proud to announce that it has received three distinguished industry awards that recognize both its outstanding workplace culture and excellence in multifamily property management.

AMC has been honored with the following accolades:

USA Today Top Workplaces- 2025
Real Estate Top Workplaces- 2025
The Orange County Register Top Workplaces- 2024
Multi-Housing News Top Multifamily Property Management Companies- 2024
Culture Excellence Top Workplaces
Professional Development- Fall 2024
Purpose & Values- Spring 2025

These awards reflect AMC’s continued commitment to providing exceptional living experiences for residents and fostering a collaborative, growth-oriented environment for employees. The recognitions also highlight the company’s long-standing dedication to operational excellence, innovation, and people-first values in the property management industry.

We are incredibly proud and grateful to be recognized by such respected organizations,” said Danielle Holloway McCarthy, President at AMC. “These awards are a testament to the hard work, passion, and dedication of our entire team. At AMC, we strive to empower our team members, deliver extraordinary service at our communities, and make coming home the best part of the day for our residents.”

With a growing portfolio of high-quality apartment communities across Southern California, AMC continues to set the standard for customer service, sustainability, and community-driven management practices.

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 12,000 multifamily units in Southern California. Find out more at amcliving.com .

Yelp Recognizes Three Advanced Management Company Communities for Continued Excellence

Thu, 13 Feb 2025 21:14:09 GMT

Four Seasons, Serena Vista and Summerwood properties earn People Love Us on Yelp awards in back-to-back years.

IRVINE, CA—February 13, 2025 —A trio of Advanced Management Company (AMC) communities has been selected for the second consecutive year for recognition as part of the People Love Us on Yelp campaign. Yelp , the community-driven ratings platform, reserves the honor for its highest-rated and best-reviewed businesses.

“We take immense pride in creating communities that residents truly love calling home,” said AMC President Danielle McCarthy. “Winning the People Love Us on Yelp award for not just one but three of our properties — two years in a row — is a testament to the dedication of our teams and the genuine connections we foster with our residents.”

AMC’s three award-winning Southern California communities are as follows:

Four Seasons Apartment Homes : Located in Paramount, the Four Seasons features a total of 104 one- and two-bedroom units. It has been in the AMC portfolio of properties since 1992. The property has also been chosen in back-to-back years as the Model Multi-Unit winner in the Pride of Paramount awards.
Serena Vista Apartment Homes : Serena Vista, located in Fountain Valley, offers one- and two-bedroom units and has been operated by AMC since 2009. The community leases 172 one- and two-bedroom units.
Summerwood Apartment Homes : Located in La Habra, Summerwood is a 98-unit property specializing in one- and two-bedroom apartments and has been under AMC management since 1998.

All three AMC communities are pet-friendly and non-smoking. They feature various resort-style amenities such as in-unit washer and dryer, private gated access, BBQ and picnic areas, sparkling pools and beautifully renovated apartment interiors highlighting quartz counters, custom cabinetry and even wine fridges.

Yelp boasts nearly 6 million active claimed business pages and over 287 million cumulative reviews. Recipients of the “People Love Us on Yelp” designation score the highest marks in both customer reviews and ratings.

The Yelp award comes with an official window sticker and a certificate of authenticity. Award winners demonstrate that staff members value customer feedback and encourage community engagement, that properties are properly vetted on the world’s largest review site and that they are a universally loved business in the community.

“This Yelp award is especially meaningful because it reflects the voices of our residents and prospective VIP guests,” McCarthy said. “Their experiences, feedback and trust motivate us to continually elevate our communities. We are incredibly proud of our team members for delivering such an exceptional experience.”

About AMC

AMC Steps Up with Housing Relief for Families Affected by Wildfires

Fri, 10 Jan 2025 23:42:48 GMT

AMC apartment communities across Southern California offer discounted rental rates, furnished apartments and expedited move-in to support affected families.

Irvine- Advanced Management Company (AMC), a leading property management company with nearly 12,000 apartment homes throughout Southern California, has announced an immediate housing relief campaign to support families displaced by the devastating wildfires currently affecting Los Angeles. With thousands of residents forced to leave their homes, AMC is stepping in to provide affordable and immediate housing options in this time of crisis.

"We understand the critical need for safe, stable housing for those who have lost their homes or been displaced. AMC is committed to supporting these families and helping them rebuild during this challenging time," said AMC President Danielle McCarthy.

AMC is offering the following to individuals and families displaced by the wildfires:

5% Discount on Rent: Displaced residents will receive a 5% reduction in market rent for the entirety of their lease term.
Immediate Move-Ins: AMC is prepared to expedite the move-in process to provide swift relief.
Fully Furnished Apartments: AMC will provide fully furnished apartments to those forced to relocate.
Flexible Lease Terms: Recognizing that recovery and rebuilding can be an unpredictable and challenging process, various lease term options, including month-to-month, are available.
Additional Benefits: Displaced individuals are also eligible for any current community concessions in addition to the 5% discount.

"Our hearts go out to everyone impacted by these devastating wildfires," said AMC President Danielle McCarthy. "We understand the critical need for safe, stable housing for those who have lost their homes or been displaced. AMC is committed to supporting these families and helping them rebuild during this challenging time."

Those affected by the wildfires can visit amcliving.com to inquire about available units. AMC's team is ready to assist with applications and ensure a seamless and swift move-in process.

Applicants must meet the standard community criteria for leasing and show verification of displacement due to the wildfires.

About AMC

About Advanced

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

Fri, 30 Aug 2024 21:16:05 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

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 .

AMC Gives Back to Community Families with Backpack Drive

Tue, 30 Jul 2024 15:48:42 GMT

Irvine-based property management company helps shoulder the weight of back-to-school preparation with annual employee-driven initiative.

Demonstrating an ongoing commitment to supporting its local communities, Advanced Management Company (AMC) successfully held its annual Backpack Drive this week. The employee-driven event will see the distribution of 395 new backpacks, each filled with essential school supplies, to youth across AMC communities in Southern California.

The success of the Backpack Drive underscores the importance of community support and corporate responsibility. By rallying together, team members at AMC and its partner construction division, R³ Construction Services, Inc ., make a tangible difference in the lives of young students, paving the way for a brighter and more equitable future.

"Our Backpack Drive is one of my favorite volunteer efforts of the year, and it remains a cornerstone of AMC's community outreach initiatives," said AMC President Danielle McCarthy. "For many families, purchasing school supplies can be a financial burden. Initiatives like this relieve this pressure, allowing parents to allocate their limited resources to other essential needs. By providing these backpacks, AMC aims to ensure that every child possible within our communities starts the school year equipped with the necessary tools to succeed academically."

This marks the 11th annual year of the drive, which started as a program for one specific property before expanding throughout the Irvine-based property management company's portfolio in 2021. The backpacks and school supplies are donated by industry partners and bolstered by donations from team members into AMC's Charitable Giving Fund, which is used to help subsidize multiple charity efforts throughout the year.

All the backpacks were stuffed with school supplies at the company's warehouse by volunteer team members. The backpacks will be distributed this week to individual community directors for delivery to their intended recipients at their apartment homes. The process begins each year when community directors identify and nominate individuals from their communities.

"It's a beautiful thing to see a child's eyes light up when they receive the backpack their community director has hand-picked out for them," said Katie Tanner, AMC's People Potential Ambassador. "The parents are always so appreciative, and we love knowing that we made going back to school an easier process for families in our communities. It's always a joy to watch their genuine happiness unfold."

AMC and R³ give back to their communities in myriad ways throughout the year, including efforts to provide full Thanksgiving dinners and holiday gifts for families in need and providing assistance to team members through the Charitable Giving Fund. For example, AMC team members also participated in this month's CHOC Walk at Disneyland, raising money for children's health and well-being.

"The annual school drive is one way our team members show their deep-seated dedication to the families in their communities," said McCarthy. "Creating a family atmosphere in our company and at our properties remains one of our highest priorities."

About AMC and R³

Four Seasons Apartment Homes Wins Pride of Paramount Beautiful Property Award

Thu, 06 Jun 2024 06:33:18 GMT

AMC-owned property earns Model Multi-Unit designation for a second consecutive year.

PARAMOUNT, CA —For the second year in a row, Four Seasons Apartment Homes has been recognized as the Model Multi-Unit winner in the annual Pride of Paramount Beautiful Property Awards .

The Four Seasons Apartment Homes, which feature a total of 104 one- and two-bedroom units, has been owned and operated by Advanced Management Company (AMC) of Irvine, CA, since 1992. The property was chosen as the Model Multi-Unit winner in 2023 and 2024.

Residents of Paramount, CA, provided initial award nominations for homes and properties in five different categories, which were then reviewed by a panel of expert judges in real estate, property development, architecture and landscape design to select the most worthy candidates. Public voting on those finalists then determined the final winners in each category.

“We appreciate this award more because it takes into account the opinions of both industry experts and residents from throughout the city of Paramount,” said AMC President Danielle McCarthy. “We take a lot of pride in the Four Seasons property, from the eco-friendly, drought-tolerant landscaping to all the amenities offered to our residents, whom we refer to as VIPs. AMC is a family-owned company, and we strive to foster an environment where families feel right at home.”

Conveniently located on Indiana Avenue near the Paramount Drive-In Theatres and just over five miles from the Long Beach Airport, Four Seasons provides myriad resident-pleasing amenities, including four resort-style swimming pools, beautiful courtyards, on-site laundry facilities, private gated access, a dog run, BBQ grills, on-site and on-call maintenance and a pet-friendly, smoke-free environment.

“Our overarching mission at AMC is to make coming home the best part of our residents’ day,” McCarthy said. “Congratulations to our team members and VIPs at the Four Seasons for all contributing to the overall beauty of the property.”

To learn more about Four Seasons, visit www.fourseasonsapartmenthomes.com or call (424) 340-0542.

About AMC

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

Tue, 28 May 2024 20:24:53 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 Management Company Sows Earth Day Ideals Year-Round

Tue, 16 Apr 2024 17:11:11 GMT

Irvine-based property management company is right at home championing green initiatives throughout its 62 Southern California communities.

IRVINE, CA—April 16, 2024— The world celebrates Earth Day one day out of every year. Advanced Management Company , however, spends 365 days annually actively trying to promote a green and eco-friendly lifestyle throughout all of its communities.

The Irvine-based property management company champions an Earth-first philosophy in all its 62 communities and nearly 12,000 multifamily units throughout Southern California. This outreach extends far beyond Earth Day’s official recognition on April 22.

“Every decision we make is with the environment and sustainability in mind. That’s always something at the top of our minds for everything that we do,” said AMC President Danielle McCarthy. “From going paperless to being very conscious about not putting anything detrimental back into the environment — such as plastics — we’re always trying to keep our green initiatives fresh in everyone’s minds.”

This future-forward approach is ingrained in the company’s culture, said Cofounder Frank Holloway, and great effort goes into improving efficiency and creating the smallest amount of waste possible.

“With any industry, there’s some trade-offs, but we feel strongly about being green and will continue to embrace that philosophy as best we can,” Holloway said. “I’ve got a few grandchildren now, and it really makes you look at things in a different light: You want the world to be better for them.”

Eco-friendly initiatives adopted by AMC in recent years include the following:

Going paperless: Nearly all of AMC’s business is now conducted online with digital copies. No more 25-page leases for residents to sign. No more reams and reams of paper records stored in filing cabinets.
Eliminating plastics: AMC asks all its employees to ditch the use of paper straws and plastic water bottles in favor of personal water bottles. Additionally, whenever taking over a new community, resident gift baskets include reusable water bottles. On top of that, most communities feature a bottle-filling station on the property for residents to use.
Drought-resistant landscaping and smart irrigation systems: AMC has made a big push to move toward native drought-resistant plants and foliage that are native to California on its properties, combined with drip irrigation that reduces runoff. The overall environmental strategy also includes smart irrigation technology that connects with weather forecasts and predictions of rain, allowing sprinkler systems to shut off during storms, providing considerable water conservation savings throughout the year.

Some of the company’s biggest sustainability strategies are seen on the manufacturing and production side through R³ Construction Services, Inc. , AMC’s partner construction division. R³ specializes in high-volume renovations for Southern California apartments, creating luxurious living environments while prioritizing environmentally friendly upgrades such as LED lighting, low-flow high-efficiency toilets, dual-pane windows and commercial-grade vinyl click flooring.

R³ also builds its own cabinetry, designed specifically for each individual unit, using computer-controlled equipment that reduces waste down to near zero. Noting that the construction industry, in general, tends to generate a lot of material waste, R³ General Manager Scott DeMint said their companies’ top-to-bottom process is designed with environmental efficiency and long-term sustainability in mind.

“We operate with the mentality that there is always something more we can do,” DeMint said. “We are trying our best day in and day out to do the right thing for our residents, our communities, and the environment. It’s definitely a cornerstone of the company’s beliefs, and I’m proud to be part of an organization that prioritizes sustainability. We’re constantly refocusing our resources to make sure we keep the pedal down on exploring the latest eco-friendly initiatives.”

Considering the large footprint AMC maintains in Southern California, including up to 50,000 residential VIPs, it’s easy to appreciate the potential ripple effect these initiatives can return over time.

“We do have a substantial portfolio of properties that can make an impact, which I think gives us a responsibility to make sure we are doing the right thing and being an example in the industry,” DeMint said. “It is important that everyone is buying into the initiatives, from corporate and individual on-site teams to the residents themselves. Spreading the word about this philosophy throughout our communities is one way we hope to encourage more buy-in and discover new great ideas.”

According to McCarthy, AMC’s dedication to an eco-friendly approach is reflective of the company’s overall mission.

“We’re committed to nurturing the beautiful ecosystem where we take care of our employees, who then take care of our VIPs and that, in turn, benefits the investors. It just goes round and round and hand in hand,” McCarthy said. “We strive to create a happy living and working environment where people take care of one another and do the right thing even when no one is watching. They can trust that we have their best interest in mind and that we will treat them how we would want to be treated.”

About AMC and R³

AMC Honors Employees at Company’s 26th Annual Tribute Awards

Tue, 19 Mar 2024 17:31:07 GMT

Employees gathered for high-class pageantry and entertainment in an Academy Awards-style evening of celebration.

IRVINE, CA—March 19, 2024— Advanced Management Company’s 26th Annual Tribute Awards are officially a wrap! Employees and guests gathered recently for an evening of upscale pageantry and entertainment while celebrating the company’s top achievers throughout the past year.

Hosted at the City National Grove of Anaheim, AMC pulled out all the stops at the annual event, complete with employees walking the blue carpet under the towering palms in the Grove courtyard, live social media photo galleries and mingling and socializing. Cocktails and hors d’oeuvres were followed by dinner and an awards ceremony, topped off with dancing the night away to live band Soulville.

According to AMC Cofounder Frank Holloway, the annual Tribute Awards gala is AMC’s opportunity to shine a spotlight on the people who deserve it most: the company’s employees.

“This is our chance to really give thanks to the team members for all their hard work,” Holloway said. “Year after year, they’re in the trenches. They’re dealing with all the issues that arise in property management. Our message to them is, ’Thank you. We appreciate you, and we’re glad you’re part of our team.’ We hope to continue growing and giving more opportunities to all our team members.”

The event, which in many ways evokes an overall Academy Awards presentation vibe, is something employees at AMC — an Irvine-based property management company overseeing more than 60 apartment home communities, with nearly 12,000 individual units — look forward to all year long. With the company spread out across Southern California, AMC President Danielle McCarthy said it’s always a welcome occasion when everyone gets together under one roof.

“With our various locations, we don’t get to see everyone every single day,” McCarthy said. “The Tribute Awards have evolved over the last several years, and we’ve really raised the bar in how the entire evening unfolds. This year’s event was wonderful! Team members were dressed to the nines in black-and-white attire. I love to see everyone having a great time with their coworkers and plus-ones. It really feels like a family event.”

When it comes to the awards presentation itself, McCarthy served as cohost with her brother-in-law Scott DeMint, who is General Manager of R³ Construction Services, Inc ., AMC’s in-house construction division. The pair traded off announcing nearly all of the program’s 26 awards. DeMint, who always gives an introduction in Spanish — the first language for many of the company’s employees — said the entire event embodies the inclusive company culture AMC and R³ have built over the last 42 years.

“We’re here to celebrate uniqueness, celebrate everyone’s accomplishments and really try to demonstrate how much we all appreciate the on-site teams putting in tremendous work day in and day out,” DeMint said. “I think that’s really the cornerstone of the company since its founding. The way the owners treat everybody across the board is reflected in this whole event.”

Employees are nominated for awards in advance by their coworkers, but the nominations are not revealed until the presentation the night of the event. Like most award programs, each category included multiple nominees before one winner was revealed. Winners didn’t have to give an acceptance speech, but McCarthy noted that some of the most memorable and heartfelt moments each year occur when they do step up to the microphone.

“It is so fun to see the shock on people’s faces when they win, and it’s inspiring to see everyone cheering for their teammates and to hear their emotional acceptance speeches,” McCarthy said. “When people win who are so deserving, that’s always just such a highlight for me.”

One of the evening’s biggest awards, the Bruce H. Dohrman Memorial Award of Excellence, along with $2,500, was presented to Asael Sepulveda. The Dohrman family has been a close partner of Advanced Real Estate since the early days of the company. Bruce Dohrman was an incredibly smart, kind and influential man, and this award is given in his honor to someone who carries out these same qualities.

Other noteworthy honors included the Crystal Rhino for property of the year, as well as awards for Community Director, Service Director and Foreman of the Year, seven AMC Hall of Fame inductees, among others.

Nikki Lizardi, AMC’s Director of Human Resources, has been involved with the Tribute Awards from their inception and now handles the lion’s share of the planning and preparing. She’s seen the event grow from modest beginnings into the huge production it is today.

“When we first started, it was held in hotel banquet rooms as a luncheon event for employees only,” Lizardi said. “It kept getting bigger and bigger, and now it’s a bit of a challenge to find some place large enough to host us all. But we’ve turned it into this wonderful evening celebration for all the team members. It’s a magical night.”

Each year’s event has a different theme. This year’s was black-and-white elegance, but previous themes have included “The Great Gatsby” and a masquerade ball. The night generally closes with a live band, dancing, late-night snacks, gambling tables and a photo booth, and this year was no exception.

“We have quite a number of employees who love to dance and they really enjoy the band Soulville,” Lizardi said. “Everybody just knocks the house down with their dancing.”

Above everything, all the pomp and circumstance that goes into delivering such an enchanting evening is really just one big thank you to AMC and R³’s workforce.

“Our industry can be really challenging, so to be able to give back to the people who work so hard every day is very rewarding,” McCarthy said. “They deserve a night to let loose and celebrate all their dedication and hard work. It’s a great event to be a part of!”

About AMC and R³

Yelp Recognizes Serena Vista Apartment Homes with Review-Based Honor

Wed, 07 Feb 2024 22:52:07 GMT

AMC’s Fountain Valley property receives “People Love Us on Yelp” award as a result of resident feedback and ratings.

FOUNTAIN VALLEY, CA—February 8, 2024— Yelp , the community-driven ratings platform, has chosen Serena Vista Apartment Homes for recognition as part of its “People Love Us on Yelp” campaign. The honor is reserved for Yelp’s highest-rated and best-reviewed businesses.

Yelp boasts 6 million active claimed business pages and over 265 million cumulative reviews. Recipients of the “People Love Us on Yelp” designation score the highest marks in both customer reviews and ratings. Serena Vista Apartment Homes, which has a total of 172 one- and two-bedroom units, has been owned and operated by Advanced Management Company (AMC) of Irvine, CA, since 2009.

Serena Vista is the third AMC property to earn the “People Loves Us on Yelp” designation in recent months, joining Summerwood Apartments Homes in La Habra and Four Seasons Apartment Homes in Paramount.

“As a family-owned company, we strive to foster an inclusive, friendly atmosphere at each of our 62 properties located throughout Southern California,” said AMC President Danielle McCarthy. “The most gratifying aspect of Serena Vista receiving this Yelp award is that it is based on VIP ratings and reviews, so we know our on-site staff is creating positive long-term memories for our residents.”

The Yelp award comes with an official window sticker and a certificate of authenticity, and demonstrates the following:

Serena Vista staff members value customer feedback and encourage engagement.
The AMC property is positively vetted on the world’s largest review site.
Serena Vista is a universally loved business in the community.

Conveniently located on La Hacienda Avenue in Fountain Valley, Serena Vista is just a mile and a half from Mile Square Regional Park, three miles from The Observatory in Santa Ana, and six miles from Huntington Beach. Serena Vista provides myriad on-site amenities, including gated access, a resort-style pool and spa, beautiful courtyards, laundry facilities, a fitness center, wine fridges, BBQ grills and a dog park. Serena Vista also offers a pet-friendly and smoke-free environment.

“Our mission is to make coming home the best part of our VIPs’ day,” McCarthy said.

To learn more about Serena Vista, visit www.serenavistaliving.com or call (657) 312-3835.

About AMC

AMC Partners with AppFolio for Improved Property Management

Thu, 01 Feb 2024 23:51:05 GMT

New technology takes all aspects of property management into the future with innovative

solutions for AMC’s 62 communities.

IRVINE, CA—February 1, 2024— Advanced Management Company (AMC) has taken a bold step into the future of property management. It has partnered with AppFolio to embrace innovative, customizable solutions for operating its portfolio of 62 communities and nearly 12,000 individual units throughout Southern California.

AppFolio, a technology leader powering the future of the real estate industry, provides strategic property management options along with increased reliability and efficiency. According to AMC President Danielle McCarthy, the choice to partner with AppFolio manifests an investment in the future of both companies.

“AppFolio has developed the most robust platform, which accommodates everything we need to manage and scale our property management portfolio effectively for years to come,” said McCarthy. “Anything we would like to achieve from a tech and generative AI standpoint, we can accomplish with AppFolio. I look at this as a true partnership. Focusing on the future, AppFolio wants to be the first ones to do innovative things in our industry, and we want to be driving them to get there.”

According to McCarthy, the move was a long time coming, as AMC had been using its previous property management software since 2003. While development and upgrades did occur along the way, there were so many advances in technology occurring in the industry that simply outpaced what the previous product could deliver.

McCarthy said she had an epiphany one day at a National Apartment Association conference when she realized it was time to go all in on embracing the future.

“I just got this realization that we would never be where I wanted us to be as a company if we kept treading water with the previous software,” McCarthy said, noting that they vetted the AppFolio partnership for a period of 10 months. “We needed to just bite the bullet and go for it. Our team made the unanimous decision to go with AppFolio, and we went live on September 26 after just a six-month turnaround. We didn’t anticipate it being that fast, but I’m really happy that we just ripped off the Band-Aid, and went forward with it. It’s been a tremendous asset in continuing to provide first-class service to our communities.”

AMC selected AppFolio due to its comprehensive property management solution, which includes AppFolio Realm , and its suite of AI solutions that covers Realm-X , a conversational interface powered by Generative AI for the real estate industry. These innovations — coupled with advanced insights, reporting tools and user-friendly dashboards — offer high-growth, large-scale property management firms the reliability and efficiency necessary for smooth, strategic portfolio management.

“We’re excited about our collaborative journey with AMC,” said Katelyn Graumann, Vice President of Customer Success and Growth at AppFolio. “AMC’s adoption of AppFolio Realm has empowered them with an exceptional user experience, achieving more with fewer resources. Our suite of AI products has helped AMC reshape property management workflows, optimized operations and allowed their team to focus on strategic challenges. We’ve learned a great deal about their current and future challenges and we’ll continue to listen as we innovate together to solve complex challenges facing the property management industry.”

Among AppFolio’s impact for AMC, McCarthy listed the following benefits:

Digitized vendor payments: Enables direct payments between property management and vendors.
Enhanced owner experience: AppFolio provides property owners on-demand access to property data, documents and tasks, offering direct visibility into the health of their properties.
100% mobile utilization: Allows Community Directors and AMC staff access to key data at their fingertips.
AppFolio’s AI Leasing Assistant Lisa: Enables prospective renters the ability to book tours and allows property managers to drive higher productivity, cost efficiency and better experiences for VIPs.

One member of the management team who can vouch for AppFolio’s immediate impact is Ken Kayoda, AMC’s Director of Finance. Kayoda has been with AMC since 1990 and used to maintain all the financial records by hand. Challenges are expected with any big technology changes, he said, but AppFolio’s abilities are already paying dividends.

“Overall, we feel we made a change that will have direct benefits to our day-to-day operations, and we hope future improvements will enhance what we currently have,” Kayoda said. “With AppFolio, we have seen some tasks disappear, freeing resources to concentrate on other things as well as time savings for some current tasks. I think we’ve only seen a portion of what AI can do, and we welcome the potential that we can apply in all areas.”

The improved connectivity AppFolio fosters has also been a hit with the VIPs who make AMC communities their home. Here’s what four of them had to say in online reviews:

“The community is very clean, and trash is picked up regularly,” said Hasib A. of Stonybrook Apartment Homes in Anaheim. “Maintenance issues are taken care of promptly. To give you an example, a minor maintenance request was submitted online on a Sunday afternoon. I was under the impression that somebody would come fix the issue, maybe on Monday or Tuesday. However, thanks to Seth, the problem was fixed within hours on the same day.”

“I want to leave another review for the maintenance team and reference Erick and Kenneth,” wrote Cambria U. of Surf House Apartments in Huntington Beach. “They have been so helpful. . . . The communication is also very professional, and they go above and beyond to make sure our needs are met. I also love how the updated emails make notes of what needs to be done and schedules appointments. I also want to mention Brett who has been super helpful, communicative and gets back to us very quickly. He even wished my husband a happy birthday, and made sure everything was taken care of. I have been super impressed by the new staff care.”

“The Grand Costa Mesa is fantastic!” wrote Margaret Gelini of the newly acquired The Grand Apartments in Costa Mesa. “We got great service from Lori and Nick (leasing agents) when moving in. I arrived really late, and Lori stayed after work to make sure I got my keys. Nick helped with setting up internet and cable in my apartment. And Juan (the maintenance manager) and his team updated items in my bathroom and in the apartment. The entire team is very responsive and the service is outstanding. I would highly recommend The Grand Apartments as your new home! I’m very, very happy to be part of the neighborhood!”

“I’ve lived here for almost six months now, and I really don’t have any complaints,” wrote Lela K., a VIP of Lakewood Manor Apartments in Lakewood. “When I first moved in, staff members were very, very helpful, understanding of the situation and really sped up the process when I needed it. (Cruz was the best!) Maintenance is always available and friendly. They come on time and are very fast and efficient. Any inconvenient tasks are explained and given lots of warning time. They even host cute events in the office for holidays (even small ones like National Dog Day). It is well-kept, and I feel safe while inside my apartment. The rent portal is easy to use and sends you notifications a couple days before to remind you.”

McCarthy said it’s not an easy decision for companies to commit to such substantial changes in technology, even considering the improved overall solution.

“A change of this magnitude still presents drastic impacts on all aspects of a business with a heavy lift required from staff and residents,” McCarthy said. “We made the change because we’re confident in the current technology and that it will be something that will continue to grow with us.”

About AMC

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

Thu, 28 Dec 2023 21:46:23 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 31st, 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, R3 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 .

Giving Back to Residents Remains a Cornerstone Philosophy for AMC

Thu, 21 Dec 2023 22:42:42 GMT

Thanksgiving dinners, backpack drives and charitable holiday campaigns were all part of the property management company's volunteer initiatives in 2023.

IRVINE, CA—December 21, 2023— Advanced Management Company (AMC) strongly believes in giving back to those in need. To that end, the Irvine, CA-based property management group — which oversees 61 communities and over 11,000 units throughout Southern California — sponsors several initiatives and programs every year designed to enrich the lives of its resident VIPs and the communities in which they reside.

This past year has been no exception. With events such as backpack drives, Thanksgiving dinner donations and adopt-a-family campaigns, AMC continued to passionately strive to improve the lives of those in their communities in 2023.

“We believe that the overall success of our organization is measured through the individual experiences of every one of our VIPs,” said Danielle McCarthy, AMC President, referring to the residents of AMC communities. “We value the importance of bringing the community together and the positive impacts that this culture has on all of our lives. As such, we’re actively engaged in helping residents recognize they are an intrinsic part of our communities. Lending a hand when there’s a need is an important way of expressing our gratitude for them.”

One of the year’s biggest events occurred in November when AMC marked its 13th annual Thanksgiving Dinner Deliveries drive. Through the efforts of staff and some local sponsoring stores, the fixings for full Thanksgiving dinners were delivered to 416 AMC community members — a new high — at the kickoff of this holiday season.

This year’s backpack drive was a resounding success. Community Directors identified needs for VIPs in their communities, resulting in the assembly of 280 backpacks stuffed with age-appropriate school supplies that were delivered to students in 24 different communities.

AMC spearheads many charitable events during the holidays, including partnering with local police agencies to donate gifts and sponsoring adopt-a-family campaigns within their communities.

Additionally, with its strong belief in the importance of community, AMC purposefully fosters that culture by hosting events for its VIPs. Some of those events include the following:

For The Crossings at Chino Hills, a Paint and Sip event was held on June 8. One of AMC’s leasing consultants taught the class of 30 in the finer details of painting a beautiful sunset.
For Surf House Apartments in Huntington Beach, AMC hosted an In-N-Out event on September 28. Around 200 hungry residents picked up food, with many hanging around to socialize. Approximately 350 burgers were served.
Uptown Fullerton Apartments in Fullerton created a series of events for Resident Appreciation Week preceding Thanksgiving. Events included Pie Day, Food Truck Friday and Sunday Football Funday.

AMC’s efforts to pay it forward to its VIPs have certainly been noticed, as the following resident reviews point out:

“We absolutely adore this place! It truly feels like home to us,” said Gift Koomprapun, a resident of Stadium House in Anaheim. “Our most cherished aspect of it all has to be the incredible staff team, and let's not forget to mention the amazing and most kind Community Director, Ashley! She's been incredibly supportive and is always there to lend a helping hand whenever we need it. We feel so very blessed to be part of such a welcoming and kind community!”

“I had lived here in 2022, then I had moved but now I’m coming back. This is, hands down, one of the best properties to live at!” said Memory Stafford, a resident of The 3900 in Riverside. “They have always responded fast with maintenance and have always helped out in any way they possibly can. These apartments truly did spoil me. The place I’m currently leaving is nothing compared to these! 10/10 recommend!”

“I don't even know where to begin but let me just say that when they call these guys the Dream Team, they are all the way on point,” said Tanjy Hill, a resident of The James in Riverside. “Ethan and Ty are truly the definition of professionalism. . . . I want to thank you sincerely for me and Anthony. . . . You guys really saved us and helped us in our time of need and we truly appreciate it. If only everyone could embody professionalism the way you guys do, the world would be a better place. Thank you, guys, me and my family are grateful for both of you.”

Creating an atmosphere that promotes health and community remains at the heart of AMC’s overall mission. It’s why investing in amenities such as new pickleball courts at the Beachwood Apartment Homes in Anaheim and new windows throughout the Surf House Apartments is so valuable. Many other improvements are planned for 2024.

“We are committed to our communities, residents, teammates and partners for the long term,” said McCarthy. “Our Charitable Giving Team leads us on initiatives every year to support the livelihood of those in our communities. We want our VIPs to be able to enjoy a quality home for years to come. Our vision remains to make coming home the best part of every resident’s day.”

About AMC

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 over 11,000 multifamily units in Southern California. Find out more at amcliving.com .

Media Contact

Camille Krahe Hardy

(949) 595-5969

chardy@amcliving.com

YELP AWARDS FOUR SEASONS APARTMENT HOMES HIGH-RANKING HONOR

Tue, 19 Dec 2023 20:52:50 GMT

AMC’S PARAMOUNT PROPERTY EARNS “PEOPLE LOVE US ON YELP” DESIGNATION AS A RESULT OF RESIDENT RATINGS AND REVIEWS.

PARAMOUNT, CA—December 19, 2023— Yelp , the community-driven ratings platform, has chosen Four Seasons Apartment Homes for recognition as part of its “People Love Us on Yelp” campaign. The honor is reserved for Yelp’s highest-rated and best-reviewed businesses.

Yelp boasts 6 million active claimed business pages and over 265 million cumulative reviews. Recipients of the “People Love Us on Yelp” designation score the highest marks in both customer reviews and ratings. Four Seasons Apartment Homes, which has a total of 104 one- and two-bedroom units, has been owned and operated by Advanced Management Company (AMC) of Irvine, CA, since 1992.

“AMC is a family-owned company, and we strive to foster that all-in-this-together atmosphere at each of our 61 communities,” said Danielle Holloway McCarthy, AMC President. “What makes this Yelp award for Four Seasons so gratifying is that it is based on the reviews and ratings of our resident VIPs, which demonstrates that they’re having exactly the kind of living experiences we want for them. Congratulations to our staff at Four Seasons for creating that kind of environment.”

The Yelp award comes with an official window sticker and a certificate of authenticity and demonstrates the following:

Four Seasons staff members value customer feedback and encourage engagement.
The AMC property is positively vetted on the world’s largest review site.
Four Seasons is a universally loved business in the community.

The City of Paramount also recognized Four Seasons’ excellence this year, naming it the Model Multi-Unit in its Pride of Paramount Beautiful Property Awards .

“Our mission is to make coming home the best part of our residents’ day,” McCarthy said.

To learn more about Four Seasons, visit www.fourseasonsapartmenthomes.com or call (424) 340-0542.

About AMC

Media Contact

Camille Krahe Hardy

(949) 595-5969

chardy@amcliving.com

AMC Expands Outreach of Thanksgiving Dinner Deliveries Program

Thu, 14 Dec 2023 21:42:29 GMT

Southern California property management company brightens the holiday for more than 400 residents.

IRVINE, CA — December 13, 2023 —Thanksgiving marks the traditional heralding of the holiday season, and Advanced Management Company (AMC) kicked things off by delivering more than 400 dinners to community residents facing financial challenges.

This marks the 13th straight year that AMC, a property management company based in Irvine, CA, has conducted its Thanksgiving Dinner Deliveries program. According to Danielle Holloway McCarthy, AMC President, this program is one of many ways the company shows support for its resident community.

“Thanksgiving is no time to go hungry, and the dinner deliveries program is one way we can give something back,” said McCarthy, noting that AMC refers to its residents as VIPs. “This goes to our core goal of making coming home the best part of the day for our VIPs. We’re trying to help them build long-lasting home atmospheres, and this is one way we can communicate that value.”

ErinLynn Scott, Regional Property Coordinator at AMC, has been overseeing the Thanksgiving deliveries since the program’s inception in 2010. In the early years, she said, 150–200 dinners were delivered annually. But since 2020, with COVID and other economic factors, the number of annual dinners has risen to over 300. This year’s 416 meals marked an all-time high for the program.

“The number of dinner deliveries is definitely trending upward,” Scott said, “as COVID hit hard for many families and things are much more expensive now.”

AMC manages 61 different properties throughout Southern California, totaling around 11,000 individual apartment units. Toward the end of October, Community Directors managing each property nominate families they think would be a good fit for the Thanksgiving deliveries that year. The community managers can either let the approved families know in advance or surprise them with their meal the week of Thanksgiving.

“Most of the recipients are overwhelmed,” Scott said. “They’re very emotional and often taken aback that someone recognizes their situation and cares about making their Thanksgiving memorable. At AMC, our VIPs are every bit as much a part of the AMC family as any of us working in the office. That type of attitude really blows them away, and they appreciate us stepping up and showing we care.”

Each dinner delivery offers a cornucopia of goodness, including the following items:

13–15-pound turkey.
10-pound bag of potatoes.
2-pound bag of frozen mixed vegetables.
Box of stuffing.
Pumpkin pie.

AMC partners with Costco in Laguna for the turkeys and El Super in Santa Ana for the rest of the dinner package inclusions. R³ sorts and delivers the dinner items to three AMC communities in Santa Ana, Fullerton and Riverside that serve as hubs for the other properties close to them. The dinner packages are then delivered by the Community Directors at the individual properties.

Scott said she looks forward to coordinating the program for years to come.

“As our organization continues to grow, this program is something that is still true to each of our hearts,” she said. “It’s always a wonderful way for us to begin the holiday season. It’s so humbling to be a part of bringing such joy to our VIPs.”

About AMC

Media Contact

Camille Krahe Hardy

(949) 595-5969

chardy@amcliving.com

AMC’s Health & Wellness Expo Offers Myriad Benefits to Employees

Wed, 13 Dec 2023 22:14:14 GMT

Company members flock to Newport Beach for health checkups, flu shots, education, stress relief and fun at annual expo.

IRVINE, CA—December 13, 2023— Employees of Advanced Management Company (AMC) don’t need to have perfect vision to see the vast benefits of the company’s annual Health & Wellness Expo, which has evolved over 23 years from simply providing flu shots to becoming a full-blown day of checkups, education, demonstrations, mental wellness activities and additional fun.

Held in early November at Newport Dunes Waterfront Resort in Newport Beach, California, the event brings together nearly all of AMC’s 465 employees from 61 different community properties throughout Southern California. The company treats it as a paid workday, adding an extra incentive for employee participation.

“We’re very proud of the way our Health & Wellness Expo has expanded through the years to offer increasingly more benefits to our employees,” said Danielle Holloway McCarthy, AMC President. “AMC is built on a family atmosphere, and the overall health of our employees is a primary concern of ours and something we take seriously. We’re thankful to provide a day to bring all the employees together to help them become more educated about their individual health.”

The expo has literally been a life-saving event for some employees. Nikki Lizardi, AMC’s Director of Human Resources, has directed the expo since its inception in 2000. She’s seen expo insights convince countless employees to make positive lifestyle changes when it comes to health and even knows of a few instances where testing at the event essentially saved employees’ lives by alerting them to immediately dangerous health conditions.

“We have saved a couple lives, and there’s all kinds of stories about important individual health discoveries over the years,” Lizardi said. “I really feel like this is such a good thing we do. Even if it’s just one person a year that we affect — if we alter their future, healthwise, in a positive way, then that’s a great outcome. There’s a lot of smaller impacts that happen as well. Any impact is beneficial.”

Employees check in at 8:30 a.m. the morning of the expo and pick up swag bags of information, schedules and other goodies, as well as a new matching company shirt, which they all change into for the duration of the day’s events. There is some required training depending on each employee’s position, but then everyone is free to participate in a variety of health-related amenities.

Healthcare services provided at this year’s event included the following:

Cholesterol, glucose and body weight checks.
Bone density.
BMI.
Posture screening.
Vision checkup.
Hearing checkup.
Dental information.
Chiropractor checkup.
Hairstyling, including men’s facial hair.
Eyelash and eyebrow care.
Dermatology assessment.
Flu shots.

One popular location was the Zen Tent, where a dozen masseuses provided stress-free chair massages. Other Zen offerings included reflexology tests, therapy dogs, yoga therapy and eco-friendly crafts. Additional tents were set up for power tool demonstrations, company benefits and career track training, professional headshots and a selfie station, and 14 vendors were onsite for early holiday shopping opportunities.

Lizardi said AMC supplies employees with $200 worth of work shoes, boots and insoles every other year. So there were two trucks filled with approved job site shoes for employees to pour their soles into.

“It’s a whole big production out there,” Lizardi said. “They put all the shoes on display like they’re going to a shoe store, and they lined everything up so it looks really nice. We had people there helping them try the shoes on. If they wanted more shoes than what the company provides, we offered them an employee payroll deduction instead of charging it out of pocket. We tried to make everything as affordable as possible.”

The event is held outdoors to take advantage of the beautiful Southern California weather in November and to help promote an overall healthy vibe. Eco-friendly ideals are a huge part of the planning, with most lunch materials being compostable or recyclable.

Looking back, Lizardi said the growth of the expo — which featured more than 100 volunteers this year — has been gradual, becoming a little more “ginormous” as the years go by.

“It’s just kind of evolved each year, and we’ve made it a little more fun, a little more interesting and a little more educational,” Lizardi said, noting that she really starts digging into the planning each year around April. “It’s a really fun event that’s dear to my heart because I’ve put decades of energy into it. It’s not just hearing, and it’s not just vision. It’s really for an employee’s overall well-being. It’s kind of like A to Z for everything you could possibly do healthwise in a group setting, minus any private things.”

About AMC

Media Contact

Camille Krahe Hardy

(949) 595-5969

chardy@amcliving.com

AMC Selects AppFolio as Technology Partner to Drive Future Expansion

Thu, 07 Dec 2023 17:04:54 GMT

Latest Customer Acquisition Brings Nearly 11,000 Units to AppFolio Property Manager Plus

Santa Barbara, Calif., December 7, 2023 — AppFolio, Inc. (NASDAQ:APPF), the technology leader powering the future of the real estate industry, today announced that it recently welcomed property management firm Advanced Management Company (AMC) to its growing roster of customers using AppFolio Property Manager Plus. This partnership underscores AppFolio’s commitment to building innovative, customizable solutions for large property management firms.

AMC selected AppFolio due to its comprehensive property management solution, which includes AppFolio Realm , and its suite of AI solutions that covers Realm-X , a conversational interface powered by Generative AI for the real estate industry. These innovations, coupled with advanced insights, reporting tools, and user-friendly dashboards, offer high-growth, large-scale property management firms the reliability and efficiency necessary for smooth, strategic portfolio management.

“Integrating thousands of rental units on a new platform is a monumental task, but AppFolio’s onboarding team gave us around-the-clock support — an indicator of the first-class customer service and technical prowess that the company provides,” said AMC President Danielle McCarthy. “We see great potential in the company’s current offerings, as well as in their constant commitment to innovation and view this partnership as a real investment in our future. With AppFolio as our partner, we are confident that we have the tools and infrastructure to manage and scale our property portfolio effectively.”

According to a recent AppFolio survey , the number one challenge for property managers in 2023 was driving an efficient and profitable operation, and having access to the right tools and technology is a key part of this. An overwhelming 88% of property managers agreed that technology makes their jobs easier, yet nearly one-third reported they are dissatisfied with the current technology available to them — underscoring why robust, innovative property management solutions that increase operational efficiency are critical for unlocking opportunities for both top and bottom-line growth.

This year, AppFolio introduced notable technological advancements that meet the evolving needs of large property management firms, including new leasing productivity tools and new AppFolio Stack™ partners in addition to AppFolio Realm-X.

“We are thrilled to welcome AMC to the AppFolio family,” said McLure Foote, Senior Vice President of Sales at AppFolio. “We look forward to strategically partnering with the AMC team and helping them drive ongoing business growth, operational excellence at scale, and delighting their employees and residents."

For more information on product and integration availability, please visit https://www.appfolio.com .

About AMC

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 currently maintains and operates over 11,000 multifamily units in Southern California. Find out more about careers, apartments for rent or investments at amcliving.com .

About AppFolio, Inc.

AppFolio is the technology leader powering the future of the real estate industry. Our innovative platform and trusted partnership enable our customers to connect communities, increase operational efficiency, and grow their business. For more information about AppFolio, visit appfolio.com .

For more information, please contact:
Mission North for AppFolio
appfolio@missionnorth.com

Summerwood Apartment Homes Receives Top Honors from Yelp

Mon, 20 Nov 2023 18:02:40 GMT

Stellar reviews and ratings power AMC’s La Habra property with “People Love Us on Yelp” recognition.

LA HABRA, CA—November 20, 2023— Summerwood Apartment Homes is pleased to be recognized as one of the highest-rated and best-reviewed businesses on Yelp . The community-driven ratings platform selected Summerwood as an honoree in its current “People Love Us on Yelp” campaign.

The campaign pays tribute to businesses with the highest marks in both ratings and customer reviews, which is no small feat, considering Yelp’s 6 million active claimed business pages and over 265 million cumulative reviews. Summerwood, a 98-unit property specializing in one- and two-bedroom apartments, has been owned and operated by Advanced Management Company (AMC) of Irvine, CA, since 1998.

“The most exciting aspect of Summerwood receiving this Yelp award is that it is based on customer ratings and reviews,” said Danielle Holloway McCarthy, AMC president. “That our VIPs, both past and present, think so highly of the property is evidence that our onsite staff is accomplishing great things there. AMC is a family-owned company, and we encourage that type of atmosphere at all of our properties and strive to provide positive long-term memories for all our residents.”

The Yelp award comes with an official window sticker and a certificate of authenticity and demonstrates the following:

Summerwood is a universally loved business in the community.
The AMC property is positively vetted on the world’s largest review site.
Summerwood staff members value customer feedback and encourage engagement.

Conveniently located on North Harbor Boulevard near the La Habra Shopping Center and Harbor Square, Summerwood provides myriad resident-pleasing amenities, including a resort-style swimming pool, sauna, fitness center, a community room, onsite laundry facilities, private gated access, BBQ grills and a pet-friendly, smoke-free environment.

“Our mission is to make coming home the best part of our resident’s day,” McCarthy said.

To learn more about Summerwood, visit summerwoodliving.com or call (562) 352-2757.

About AMC

AMC is a subsidiary of Advanced Real Estate Services, Inc. (ARES), a real estate investment company founded in 1982 by Richard Julian and Frank Holloway. AMC currently maintains and operates nearly 11,000 multifamily units in Southern California. Find out more at amcliving.com .

Media Contact

Camille Krahe Hardy

(949) 595-5969

chardy@amcliving.com

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

Fri, 01 Sep 2023 23:44:46 GMT

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

Irvine, CA – Advanced Real Estate Services, Inc. (Advanced) 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 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 for over four decades.

“Very few large properties trade in Orange County, especially in a coastal city like Huntington Beach” said Advanced 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, 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’s in-house renovation Company, R3 Construction Services, Inc. Property management will be handled by their in-house management company, Advanced Management Company (AMC).

In the transaction, Advanced 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.

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)

Advanced was formed in 1978 and currently owns and operates nearly 11,000 apartment units throughout Southern California with a market value of over $4 billion. Advanced funds their investments with private equity. All property management and renovation are carefully administered through their in-house management and construction arms. 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 Advanced 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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Danielle McCarthy is assuming the presidency of Advanced Management Company (AMC)

Wed, 03 Aug 2022 01:33:18 GMT

Danielle McCarthy is assuming the presidency of Advanced Management Company (AMC) , effective immediately!

Danielle has over 10 years’ experience and contributed much to the success of AMC during that time. She has worked her way up from an onsite leasing agent, and is an intelligent, enthusiastic, positive, and effective leader. Her work ethic, discipline and creativity will help propel AMC to the next level.

Co-founder Frank Holloway shared, “Danielle is a true visionary and we are fortunate to have her at the helm.”

“I couldn’t be more proud of our company, and I am committed to the future of this organization; operating by our founding principles of honesty, integrity and quality work. AMC will continue our focus on not only being the best place to live in Southern California, but the very best place to work!” said McCarthy. “I am so excited for what the future holds and for the success our team will achieve together, as a family, for many generations to come.”

ABOUT AMC

AMC is a subsidiary of Advanced Real Estate Services, INC., a Real Estate investment company founded in 1982 by Richard Julian and Frank Holloway. Advanced Real Estate Services, INC. currently maintains and operates over 11,000 multifamily units in southern California. Find out more about careers, apartments for rent or investments at amcliving.com .

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

Wed, 21 Jul 2021 23:57:07 GMT

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

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.”

Santa Ana’s Covid help extended to landlords, tenants

Mon, 22 Mar 2021 23:47:00 GMT

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Advanced Real Estate Services Buys 115 Units in Irvine

Mon, 22 Mar 2021 23:46:00 GMT

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Axis 2300’s Rare Large Units Entice Advanced Real Estate

Mon, 22 Mar 2021 23:37:00 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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