Advanced Real Estate Services (ARES) Acquires 63 Townhomes in Riverside, CA

August 2, 2016

Advanced Real Estate Services (ARES) Acquires 63 Townhomes in Riverside, CA

Tuesday, August 2, 2016

Irvine, CA – August 2, 2016 – Just a few months after acquiring 149 units in Lakewood, CA, Advanced Real Estate Services, Inc. (ARES) has completed the purchase of the 63 unit Tuscan Townhomes in Riverside, CA. 

The property, built as condominiums from 2007 to 2010, but rented as apartments, is adjacent to their larger 714 unit Corona Pointe Resort project.  According to Richard Julian, President of ARES, the properties will be managed together. “This is a strategic acquisition that benefits both this new property and our existing Corona Pointe Resort.  The townhomes offer a new floorplan with attached garages and more visibility on Magnolia. The residents at the Townhomes will benefit from the brand new resort-style amenities we are just completing at the larger property.  Our newly upgraded common areas will set the standard in Riverside.  We've added a lagoon-style, beach-entry pool, outdoor theater, multiple cabanas and fireplaces, state of the art gym, concierge, media room, spin room and more.”

Located near California State Route 91, Tuscan Townhomes is minutes away from the Tyler Mall, as well a wide variety of shopping, dining, and entertainment options. 

Advanced Real Estate Services, Inc. (ARES) was formed in 1982 and currently owns and operates over 7,200 units throughout Southern California with a market value of nearly $2 billion.  ARES funds their investments with private equity and handles all property management and renovation in-house.  This vertically integrated approach allows ARES to most efficiently execute their business plan of acquiring value-add properties, renovating them to the highest standards, and then effectively managing them for the long-term.