Advanced Real Estate Buys Two of Hollywood’s Five Apartment Towers
The buyer secured Freddie Mac financing for $141 million
By Greg Cornfield May 1, 2026 3:40 pm
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Two multifamily towers in Hollywood, Calif., have traded hands as the construction pipeline remains at historic lows.
Kilroy Realty, a Los Angeles-based real estate investment trust, sold the two developments with a combined 393 units for $202 million in what is said to be the largest multifamily deal so far this year in Southern California.
Advanced Real Estate acquired the 200-unit Columbia Square Living, which it renamed Sky Hollywood, and the 193-unit Jardine residential tower. They are two of just five apartment towers in Hollywood and make up over half of the supply of high-rise units. Both properties contain penthouses leasing from $12,000 to $20,000 per month, according to the buyer.
“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,” Paul Julian, president of Advanced Real Estate, said in a statement. “Hollywood is one of the most recognized places in the world; no town has had a bigger influence on global popular culture.”
Advanced utilized two 10-year Freddie Mac loans totaling $141.4 million with a 5.17 percent fixed rate, with interest-only payments.
Sky Hollywood is between Hollywood and Sunset boulevards at 1550 North El Centro Avenue, and Jardine is around the corner at 6390 De Longpre Avenue. Both properties feature rooftop pools and fitness centers.
Advanced Real Estate’s Advanced Management Company will manage the properties and complete cosmetic upgrades to the properties with affiliated construction company R³ Construction Services.
JLL’s Blake Rogers, Dillon Bergum, Alexandra Caniglia and Kip Malo facilitated the transactions. JLL’s Kevin Mackenzie, Greg Brown and Charlie Vorsheck procured the financing.
The acquisitions bring Advanced Real Estate’s portfolio to almost 13,000 units in Southern California and extend the firm’s buying spree over the past 12 months. Advanced acquired a 138-unit property in West Covina and 104 units in Santa Ana in the fourth quarter of 2025. The company also plans to buy more Southern California apartment properties this year.
“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,” said Rick Julian, CEO of Advanced Real Estate.
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
