Axis 2300’s Rare Large Units Entice Advanced Real Estate
March 22, 2021
Axis 2300 is a 115-unit multifamily property located at 2300 Dupont Dr. in Irvine that was constructed to condo-level specifications in 2010. The class-A property was recently acquired by Advanced Real Estate for $57.5 million.
“We are excited about this unique asset that contains condo-quality apartment units averaging approximately 1,500 square feet. It is rare to find a property in such an ideal location with such large units,” said Richard Julian, CEO of Advanced Real Estate. “The access to the job-rich Irvine Business Complex, John Wayne Airport, the 405 freeway and nearby Newport Beach as well as the quality podium construction made this property extremely appealing. We plan a light renovation and a long-term hold of this difficult-to-replace asset.”
Michael Elmore, Alex Kane, Joe Giordani and Brendan Golding of NorthMarq’s Newport Beach office secured $29 million in acquisition financing for Advanced Real Estate. The recent transaction was sized to 50 percent of the purchase price of $57.5 million.
“Our Fannie Mae team was able to overcome numerous obstacles including four TIC ownership structure, a city regulatory agreement and an interest rate cap in an accelerated timeline to satisfy the required quick closing,” said Kane.
Axis 2300’s community amenities include EV charging stations and dry-cleaning services.
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The acquisition marks the first full cycle of Advanced’s X Fund program
Irvine, CA – Advanced Real Estate has acquired the 126-unit Casa La Paz apartment community in Rowland Heights, California. The property has been rebranded as “The Rowland” and will undergo a comprehensive renovation program including exterior improvements, upgraded interiors, and enhanced community amenities. The acquisition marks the fifth property acquired in the past 8 months by their most recent Investment Fund, Advanced Fund 24-3. The other properties include two luxury apartment towers totaling 393 units in Hollywood as well as 138 units in West Covina and 104 units in Santa Ana. The Hollywood acquisition in late April was the largest apartment purchase made by any firm so far this year in Southern California. Advanced’s portfolio now includes over 13,000 apartment units in Southern California with a market value of $5 billion. Originally developed as a long-term family-owned asset, the Rowland was acquired utilizing Advanced’s unique 721 tax-deferred “exchange and contribution” structure. Through this process, the former ownership group contributed the property into the fund in exchange for partnership interests in Advanced Fund 24-3. Some of those partners in the seller’s partnership preferred a cash payout, which Advanced provided at closing. “Many apartment owners want to preserve equity and defer taxes while still transitioning away from the inherent risks of ownership as well as the day-to-day management responsibilities,” said Richard Julian, CEO of Advanced Real Estate. “Our structure allows owners to contribute their property into a solid and diversified institutional-quality portfolio while maintaining investment participation for the long term. It’s a strategy we’ve successfully implemented across numerous acquisitions.” Located in the San Gabriel Valley, The Rowland benefits from strong regional demographics, proximity to major employment centers, and convenient access to retail, dining, and transportation corridors. Advanced plans to execute a comprehensive value-add renovation strategy designed to modernize the community and enhance the resident experience. “Rowland Heights represents a highly desirable suburban Southern California rental market because of its central location and strong long-term fundamentals,” said Paul Julian, President of Advanced real Estate and Richard’s son. “We see substantial upside by repositioning this property through thoughtful renovations and professional management while creating long-term value for both residents and investors.” Property management will be handled in-house by Advanced Management Company (AMC), while renovations will be administered through Advanced’s affiliated construction company, R3 Construction Services. Advanced has increasingly utilized its 721 exchange and contribution platform as an alternative exit strategy for multifamily owners seeking tax efficiency, estate planning flexibility, and continued real estate ownership participation without active operational responsibilities. About Advanced Real Estate Advanced was formed in 1981 and currently owns and operates nearly 13,000 apartment units throughout Southern California, with a market value of over $4.5 billion. Advanced funds their investments with private equity. All property management and renovations are carefully administered through their in-house management and construction arms, Advanced Management Company and R³ Construction Services. This vertically integrated approach allows Advanced 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. To learn more about investing in or selling to Advanced, please visit www.advancedrealestate.com . About AMC Based in Irvine, CA, AMC is a subsidiary of Advanced Real Estate Services, Inc., a real estate investment company founded in 1982 by Richard Julian and Frank Holloway. AMC maintains and operates nearly 13,000 multifamily units in Southern California. Find out more at amcliving.com . To learn more about investing in or selling to Advanced, please visit www.advancedrealestate.com .
IRVINE, CA, May 1, 2026: Advanced Management Company (AMC), a leading Southern California property management firm, is proud to announce that it has been named a USA TODAY Top Workplace for the second consecutive year. AMC has also been recognized as a Top Workplace in Orange County, marking its tenth year receiving this local honor. These awards are especially meaningful because they are based on direct feedback from the team members who help shape AMC’s culture every day. Being named a USA TODAY Top Workplace two years in a row reflects a workplace where people feel valued, supported, and encouraged to grow. It also speaks of the care, commitment, and teamwork that AMC team members bring to their roles across the organization as it continues to grow. “Our mission is to be the most trusted team in apartment living, built on a legacy of happiness, teamwork, and limitless growth,” said Danielle Holloway McCarthy, President of AMC. “This recognition is a meaningful reflection of that mission and of the incredible people who bring it to life every day.” As AMC continues to grow its portfolio throughout Southern California to manage nearly 13,000 apartment homes, this recognition reinforces the company’s commitment to creating a positive team member experience. AMC supports its people through competitive wages and salary, a 401(k) with 3% employer matching, fully paid health insurance through Kaiser Permanente, life insurance, dental and vision coverage, Live Happy Time, paid holidays, paid sick time, and a paid birthday holiday. Team members are eligible for rental benefits and discounts at select AMC communities, and annual company events that celebrate wellness, connection, and achievement, including the Health and Wellness Expo, Company Picnic, and Tribute Awards. AMC also invests in long-term growth through AMC University, known as AMCU, a hands-on learning environment based at the company’s 50K sq ft headquarters in Irvine. Through multiweek internal certification courses, outside certification sponsorships, NAA, and thousands of hours of annual training in areas such as leasing, screening, maintenance, and financial management, AMC helps team members build skills, confidence, and rewarding careers. AMC extends its sincere gratitude to its entire team for helping make the company a nationally recognized Top Workplace and a continued standout in Orange County. AMC looks forward to building on this momentum and continuing to foster a workplace where people can Live Happy®!
