Advanced Real Estate Acquires Two Hollywood Multifamily Towers in Southern California's Largest Multifamily Deal of 2026
IRVINE, CA — April 28, 2026 — Advanced Real Estate has completed the purchase of two luxury multifamily towers in Hollywood, California, marking what the Irvine-based firm describes as Southern California's largest multifamily real estate acquisition of 2026. The deal adds 393 units to Advanced's portfolio through the acquisition of Columbia Square Living — now rebranded as Sky Hollywood — and Jardine Hollywood, bringing the firm's total Southern California holdings to nearly 13,000 apartment units.
JLL brokered the transaction and arranged $141.4 million in financing from Freddie Mac, structured as two separate, uncrossed loans carrying a 5.17% fixed interest rate for 10 years with interest-only payments.
Property Details: Two of Hollywood's Five High-Rise Towers
The two properties occupy prime positions in the Hollywood submarket. Sky Hollywood — formerly Columbia Square Living — is a 200-unit tower situated one block south of Hollywood Boulevard at El Centro. Jardine Hollywood, a 193-unit tower, sits one block south of Sunset Boulevard at Ivar Avenue. Together, the two buildings represent more than half of Hollywood's total high-rise apartment inventory, which comprises only five towers in the submarket.
Both properties offer luxury amenities including rooftop pools, large fitness centers, resident lounges, floor-to-ceiling windows, and luxury appliances. Each tower contains penthouse units leasing at rates ranging from $12,000 to $20,000 per month. According to the firm, current and past residents have included film and television celebrities, social media influencers, professional athletes, and entertainment executives.
Strategic Rationale: World Cup, Olympics, and Hollywood's Cultural Staying Power
Advanced cited several near-term demand catalysts in announcing the acquisition. "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," said Paul Julian, President of Advanced. "Entertainment is constantly changing, but Hollywood has stayed relevant in traditional media, social media, and technology. 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."
Rick Julian, CEO of Advanced, emphasized the firm's long-standing focus on the Southern California market. "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," he said.
The firm's value-add investment strategy, combined with vertical integration through its in-house property management arm, Advanced Management Company, and affiliated construction company, R³ Construction Services, is expected to support planned cosmetic upgrades at both properties.
Financing: $141.4 Million from Freddie Mac
The financing for the acquisition was arranged by JLL Capital Markets. Kevin MacKenzie, President of JLL's Capital Markets Group for the Americas, led the debt procurement alongside JLL's Orange County-based Capital Markets team, including Senior Managing Director Greg Brown and Director Charlie Vorsheck. The team secured two separate, uncrossed loans totaling $141.4 million from Freddie Mac, fixed at 5.17% for 10 years with interest-only payments.
The investment sales transaction 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.
Fund 24-3: Third Acquisition in an Active Buying Cycle
The Hollywood towers represent the third real estate acquisition completed through Advanced's newest vehicle, Advanced Fund 24-3. The fund previously acquired The Cove, a 138-unit property in West Covina, in October 2025, and Newhope Village, a 104-unit community in Santa Ana, in late 2025. Advanced has indicated it plans additional Southern California apartment acquisitions in 2026.
Advanced's capital is sourced from a private equity network the firm describes as a "friends and family" investor base. With a 45-year operating history, the firm currently owns and operates nearly 13,000 apartment units across Southern California with a stated market value exceeding $4.5 billion. Property management and renovations are handled through its in-house operating companies, Advanced Management Company and R³ Construction Services.
Property management for both Sky Hollywood and Jardine Hollywood will be handled by Advanced Management Company. Cosmetic upgrades are planned and will be administered by R³ Construction Services.
