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

Irvine, CA – Advanced Real Estate (Advanced) has added another multi-family asset to its growing Orange County portfolio. Known as Beachpoint, the property consists of a 68-unit apartment building and a 12,000 square foot multi-tenant office building in Huntington Beach. Situated on Beach Boulevard, the Property is only a few miles from Huntington’s world-famous beaches and Harbor. Beachpoint is also near one of Advanced’s other recent purchases, a 264-unit community called Surf House. Most floorplans in the property are large two-bedrooms, two-bathrooms units that average 1,087 square feet. With a clubhouse, tennis court, two pickleball courts, large pool with sundeck, dog run and ample parking, Beachpoint provides amenities typically only seen on much larger properties. According to Advanced, the property was well-maintained by the prior owner, but will receive the modern upgrades their firm is known for. Advanced plans new paint, signage, an amenities overhaul, and drive-entry enhancements. The interiors will get new flooring, fixtures, a contemporary paint-scheme and the addition of washers and dryers. The off-market transaction was brokered by Gary Tolfa from the Triqor Newport Beach office, with the loan being provided by Farmers & Merchants Bank. Beachpoint was contributed by the current owner to Advanced’s “X Fund”. This new fund is a revolutionary alternative to the 1031 tax deferred exchange. Since August 2023, Advanced has joined together the owners of $75,000,000 of smaller properties. Advanced will ultimately sell this portfolio and orchestrate a 1031 tax deferred exchange into much larger and more efficient properties. Advanced is accustomed to owning large-scale properties as their portfolio includes several 400–750-unit apartment communities in Southern California.  “After purchasing over 12,000 units during the past 40 years, we have learned how much more profitable and efficient larger properties are than smaller properties. Further, the larger the property, the less competition when purchasing. This allows our investment groups to start with a lower basis,” said Paul Julian, President of Advanced. With the X Fund, private owners can now enjoy the benefits of an investment scale normally limited to major institutional investors. “We saw a swelling need in the market for investors to move out of their active property ownership and into a passive role in larger-scale properties with higher returns. This shift also rids the investor of the management and liability of owning their own properties. Prior to the X Fund, owners faced hefty taxes if they sold. These owners had to choose between selling their property and paying a major share of the proceeds in taxes or completing their own 1031 exchange. If they chose the latter, they ended up with a larger headache and even more liability,” said Rick Julian, CEO of Advanced. “The 1031 exchange process is very risky because it is difficult to find a suitable exchange in 45 days. If you have already sold your property and cannot find that exchange, you are stuck with the massive tax hit!” With the X Fund, there is no sales process. Instead, investors simply contribute their property, tax-free, into the X Fund in exchange for limited partnership shares. With one simple transaction, an investor transforms from being a single property owner, to a partner in a professionally managed, diversified portfolio of properties. At that point, the investor’s responsibilities and liabilities are eliminated. They will have a cash flow stream that continues indefinitely, while enjoying large periodic cash distributions through tax-free refinances. Most importantly, the investor is in a partnership with a well-capitalized, vertically-integrated operator with a proven 40-year track record of owning and operating a sizeable Southern California multifamily portfolio. “Advanced acquired three large Apartment communities in 2023 including the 156-unit “Edison” in Long Beach, the 264-unit “Surf House” in Huntington Beach, and the 714-unit “The Grand” in Costa Mesa. The Grand was the largest multifamily property transacted in Southern California in 2023 and the 6 th largest in the nation. These larger properties are what the X Fund will hold indefinitely,” said Julian. This is the first property acquisition from the current Advanced X Fund 24, which will be closing its acquisition period on December 31 st , 2024. Advanced will consider all property types and locations throughout the United States for the assets to be contributed into the Fund. These include multifamily, industrial buildings, retail centers, and even rental homes. About Advanced Advanced was formed in 1978 and currently owns and operates over 11,500 apartment units in Southern California with a market value of over $4 billion. Advanced funds their investments with private investors, whom they refer to as “Friends and Family.” Property management and renovation are carefully administered through their in-house management and construction arms. This vertically integrated approach allows Advanced to efficiently execute their business plan, of acquiring value-add properties in Southern California, renovating them to the highest standards, and then effectively managing them for the long-term. To learn more about Advanced please visit www.advancedrealestate.com .

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

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

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

The post Advanced Real Estate Purchases Long Beach High-Rise appeared first on AMC.

Advanced Real Estate Services Acquires 120-Unit Multifamily Property in Riverside July 21, 2020 Advanced Real Estate Services Inc (ARES) has been busy during the past four months, having acquired a new multifamily asset while also completing refi loans on five others along with forming a new investment fund. In Riverside, ARES purchased a 120-unit multifamily […] The post Advanced Real Estate Services Acquires 120-Unit Multifamily Property in Riverside appeared first on AMC.

The post Axis 2300’s Rare Large Units Entice Advanced Real Estate appeared first on AMC.

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 […] The post ARES – Stadium House Acquisition appeared first on AMC.

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 […] The post Advanced Real Estate Services Buys 194 Res Units in Ontario appeared first on AMC.