Advanced Real Estate's Major Acquisition Reinforces Hollywood's Luxury Housing Market

Advanced Real Estate's Major Acquisition in Hollywood

In a significant move, Advanced Real Estate recently completed the largest multifamily acquisition in Southern California for 2026. The company purchased Columbia Square Living and Jardine Hollywood towers, expanding its portfolio to include nearly 13,000 residential units across the region. This strategic acquisition highlights not just a financial investment but also a confident bet on Hollywood's future as a hub for luxury living.

Premium Properties in Prime Locations

The two newly acquired properties, now renamed Sky Hollywood and Jardine Hollywood, are ideally situated in two of the most sought-after locations within the entertainment capital of the world. Sky Hollywood is located just a block south of Hollywood Boulevard, right on El Centro Avenue, while Jardine resides a block south of Sunset Boulevard at Ivar. The luxury apartments in both towers boast high-end amenities, including impressive rooftop pools, expansive fitness centers, resident lounges, and floor-to-ceiling windows complemented by luxury appliances. These features attract a clientele that includes notable film and television personalities, social media influencers, and other industry executives.

The properties claim a significant status in Hollywood, as they are among just five apartment towers in the area and comprise over half of the high-rise units. The luxury penthouses available in both locations lease for extraordinarily high prices, ranging from $12,000 to $20,000 per month, further solidifying the allure of these residences.

Future Prospects for Hollywood

According to Paul Julian, President of Advanced, the acquisition aligns with the promising outlook for Hollywood, especially with significant events such as the World Cup and the Olympics approaching Los Angeles. He remarked, “Entertainment is constantly evolving, yet Hollywood remains a beacon of relevance in the realms of traditional and social media.” This confidence is underpinned by a longstanding reputation; Hollywood has consistently been a powerhouse in crafting global popular culture.

The acquisition is part of Advanced’s broader strategy, with this transaction marking the third acquisition from its newest Opportunity Fund (Advanced Fund 24-3). Recent purchases included The Cove, a 138-unit property in West Covina, and Newhope Village with 104 units in Santa Ana. Advanced has plans for additional acquisitions in Southern California through 2026, demonstrating a strong commitment to growing its presence in the area.

Investment Strategy and Management

Advanced Real Estate is known for its robust network of investors, often referred to as “friends and family,” which significantly empowers its ability to fund large-scale acquisitions. With a legacy spanning over 45 years, the company prides itself on raising substantial capital for purchasing large assets in the competitive Southern California market.

“Our strategy is to concentrate on markets where entry barriers are high, and where we’ve established a deep-rooted presence,” explained Rick Julian, CEO of Advanced.

All property management functions will be undertaken in-house through Advanced Management Company (AMC), while any planned renovations will be managed by affiliated construction firm R3 Construction Services. Such vertical integration enables Advanced to maintain stringent control over the quality and standards of their properties.

The acquisition was facilitated by Blake Rogers, Senior Managing Director of JLL Capital Markets, along with his experienced team. Two separate loans totaling $141.4 million were procured from Freddie Mac to support this purchase, featuring a competitive fixed interest rate of 5.17% for 10 years, with interest-only payments, enhancing profitability potential.

About Advanced Real Estate

Founded in 1981, Advanced Real Estate currently owns and operates nearly 13,000 apartment units valued at over $4.5 billion in Southern California. The company’s unique approach, leveraging private equity for funding alongside in-house management and renovation services, enables it to efficiently enhance property value and management longevity.

To learn more about investment opportunities or selling properties to Advanced, visit www.advancedrealestate.com.

About JLL

JLL, a global leader in commercial real estate services, boasts an annual revenue of $26.1 billion, operating across more than 80 countries. Trusted for over 200 years, JLL continues to shape the future of real estate across various sectors, driven by a commitment to service excellence and innovative solutions.