R3 Construction Services, Inc.
  • about
  • services
  • projects
  • careers
  • order
Select Page

Advanced Real Estate Services Inc Buys 235-Unit Multifamily Property in Long Beach

by OsmondMarketing | Sep 28, 2020 | Uncategorized

The circle apartment homes entrance

Advanced Real Estate Services Inc Buys 235-Unit Multifamily Property in Long Beach

October 3, 2019

Advanced Real Estate Services Inc (ARES) has acquired a 235-unit apartment building in Long Beach. The property, Alvista Long Beach” is located at 1718 Ximeno Ave, in the “Traffic Circle” area near California State University, Long Beach and about two miles south of the Long Beach Airport.

ARES plans to re-brand the property “The Circle Apartments at Long Beach” and will spend over $6 mil in upgrades. The improvements will be focused on new windows, pool area upgrades, added business center and paint scheme. Interior unit upgrades will include new flooring, paint, fixtures, and smart locks. Some non-renovated units will also receive new cabinets and countertops. The property has three pools, a fitness center, and lounge.

“The Circle is in an ideal rental location as it provides easy access to jobs, retail, a major University, and the 405 Fwy,” noted Richard Julian, President of ARES. “Although Long Beach is seeing an increase of new apartment development, the “Traffic Circle” submarket has seen almost no new supply in decades.”

Long Beach’s location between the burgeoning business hubs of Coastal LA and OC make it an attractive market for multi-family investors. It is also one of only three large cities in the state that has a waterfront location and significant transportation infrastructure. Further, it is home to the busiest port in the nation.

Kevin MacKenzie and Greg Brown from JLL’s Newport Beach office arranged a $46.8 mil, 3.41%, 10-year, interest-only, Freddie Mac loan on behalf of ARES for this property.

http://www.rentv.com/content/multifamily/mainnews/news/25744

Recent Posts

  • ARES – Stadium House Acquisition
  • Advanced Real Estate Services Buys 194 Res Units in Ontario
  • ARES Buys 235 Units in Long Beach
  • Advanced Real Estate Services Inc Buys 235-Unit Multifamily Property in Long Beach
  • Advanced Real Estate Services Acquires 120-Unit Multifamily Property in Riverside

Recent Comments

    r3 constructions

    © 2021 R3 Construction Services, Inc. All Rights Reserved.
    R3 Construction Services, Inc. operating under CA Contractors State License Board #908168

    Order | Employee Portal | Privacy Policy
    handicap and housing logo
    Manage Cookie Consent
    We use cookies to optimize our website and our service.
    Functional Always active
    The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
    Preferences
    The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
    Statistics
    The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
    Marketing
    The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
    Manage options Manage services Manage vendors Read more about these purposes
    View preferences
    {title} {title} {title}