Advanced Real Estate Pays $202 Million for a 392-Unit Hollywood Portfolio

Features May 8, 2026| | Amy Wolff Sorter

Pictured above: Jardine Hollywood

Advanced Real Estate’s Opportunity Fund 24-3 acquired a 393-unit, two-property portfolio from Los Angeles-based Kilroy Realty for $202 million. The buy brings Advanced Real Estate’s Southern California portfolio to 13,000 units.

The two apartment towers, located in the Hollywood submarket, consist of the 200-unit Columbia Square Living (renamed Sky Hollywood) at 1550 N. El Centro Ave. and the 193-unit Jardine Hollywood at 6390 De Longpre.

JLL’s Blake Rogers, Dillon Bergum, Alexandra Caniglia and Kip Malo brokered the transaction. Both properties were 90% occupied at the time of the closing.

“Typically, on assets of this size, JLL has a select list of potential buyers whom they solicit. We have closed many transactions with JLL in the past, so they saw us as a good buyer for these assets,” Paul Julian, president of the Irvine, CA-based Advanced Real Estate, told ApartmentBuildings.com.

JLL’s Greg Brown and Charlie Vorsheck procured two separate, uncrossed loans totaling $141.4 million, with a 5.17% 10-year fixed rate and interest-only payments from Freddie Mac.

Sky Hollywood and Jardine are 19 stories high, represent two of five apartment towers in the Hollywood submarket and make up over half of the stock of the submarket’s high-rise units.

*Sky Hollywood (formerly Columbia Square Living)*

“These assets are special, almost irreplaceable properties in one of the most exclusive markets in the country,” Julian said. “Since we are long-term owners who hold generationally, these assets had great appeal to us.”

Both properties were built within the last ten years, and amenities include rooftop pools, large fitness centers, resident lounges, floor-to-ceiling windows and luxury appliances.

Julian added that the properties will undergo small cosmetic changes in the common areas, including pool decks, resident lounges and fitness centers.

Advanced Real Estate’s affiliated construction company, R³ Construction Services, will handle the upgrades, while the in-house Advanced Management Company (AMC) will provide property management services.

The Hollywood portfolio represents the Opportunity Fund’s third acquisition. The entity acquired the 138-unit Cove in West Covina and the 104-unit Newhope Village in Santa Ana in late 2025 and plans more SoCal deals in 2026.

Julian explained that the company targets institutional-quality assets in Southern California. “We can purchase anything from value-add to core-plus to core,” he said, adding that the current portfolio value is approximately $5 billion.

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Brokers

Remax Professionals

Jared Ennis

Rick Recckio

Eamonn McConnell

Lenders

Management

Essex Property Trust, Inc.

Josh A

Bob Tuteur

Andrew Schildcrout