The Real Deal Logo

TRENDING

Remote work will destroy 44% of NYC office valuesRemote work will destroy 44% of NYC office valuesWho is Nate Paul? A look at the developer at the center of Texas' impeachment scandalWho is Nate Paul? A look at the developer at the center of Texas' impeachment scandalWinnetka Tudor Revival mansion hits auction blockWinnetka Tudor Revival mansion hits auction blockWeWork CFO follows Sandeep Mathrani out the doorWeWork CFO follows Sandeep Mathrani out the door
Los Angeles

Irvine-based firm secures nearly $252M in financing for 8-property portfolio in SoCal

Advanced Real Estate Services also received financing to acquire Stadium House in Anaheim

Advanced Real Estate Services, a residential real estate investment firm based in Irvine, has secured $251.5 million in financing for an eight-property portfolio across Southern California with 1,261 apartment units.

The company, also called ARES, refinanced seven multifamily properties for $184.4 million, the company announced July 13. It also secured a $67.6 million loan to purchase Stadium House, a 251-unit property at 2100 E. Katella Avenue in Anaheim.

Fannie Mae provided the 10-year, interest-only loan at an average interest rate of 4.23 percent. Managing director Michael Elmore at NorthMarq Capital arranged the financing.

Sign Up for the undefined Newsletter

By signing up, you agree to TheRealDeal Terms of Use and acknowledge the data practices in our Privacy Policy.

The portfolio includes four properties — two in Costa Mesa and two in Norwalk — and one in Montebello, Bellflower, Santa Ana and Anaheim.

ARES, led by Richard Julian and Frank Holloway, owns and manages over 9,000 apartment units spread out over Orange and Los Angeles counties. In Orange County, the firm is also developing a residential project at Corona del Mar, as well as a 172-acre mixed-use development at San Juan Capistrano.

Tags
Re

TRENDING

Remote work will destroy 44% of NYC office valuesRemote work will destroy 44% of NYC office valuesWho is Nate Paul? A look at the developer at the center of Texas' impeachment scandalWho is Nate Paul? A look at the developer at the center of Texas' impeachment scandalWinnetka Tudor Revival mansion hits auction blockWinnetka Tudor Revival mansion hits auction blockWeWork CFO follows Sandeep Mathrani out the doorWeWork CFO follows Sandeep Mathrani out the door
Los Angeles

Irvine-based firm secures nearly $252M in financing for 8-property portfolio in SoCal

Advanced Real Estate Services also received financing to acquire Stadium House in Anaheim

Advanced Real Estate Services, a residential real estate investment firm based in Irvine, has secured $251.5 million in financing for an eight-property portfolio across Southern California with 1,261 apartment units.

The company, also called ARES, refinanced seven multifamily properties for $184.4 million, the company announced July 13. It also secured a $67.6 million loan to purchase Stadium House, a 251-unit property at 2100 E. Katella Avenue in Anaheim.

Fannie Mae provided the 10-year, interest-only loan at an average interest rate of 4.23 percent. Managing director Michael Elmore at NorthMarq Capital arranged the financing.

Sign Up for the undefined Newsletter

By signing up, you agree to TheRealDeal Terms of Use and acknowledge the data practices in our Privacy Policy.

The portfolio includes four properties — two in Costa Mesa and two in Norwalk — and one in Montebello, Bellflower, Santa Ana and Anaheim.

ARES, led by Richard Julian and Frank Holloway, owns and manages over 9,000 apartment units spread out over Orange and Los Angeles counties. In Orange County, the firm is also developing a residential project at Corona del Mar, as well as a 172-acre mixed-use development at San Juan Capistrano.

Tags
Re