Advanced Real Estate Acquires 138 Units in West Covina
Slice of Real Estate Team
11/04/2025
Key highlights
- Acquired The Cove for $41 million
- Units average over 1,000 sq ft
- Significant renovations planned
- First purchase for Opportunity Fund 24-3
- Unique tax-efficient investment structure
Source: PR Newswire
Notable Quotes
“ The Cove is well located, with large units averaging over 1,000 square feet. It's rare to find such an attractive unit mix for under $300,000 per unit. We have a unique tax-efficient structure, allowing investors to use their trapped retirement funds for the bulk of their investment. ”
Rick Julian, CEO at Advanced Real Estate
“ West Covina has been a historically strong rental market with abundant retail and employment and very little new competing supply. ”
Paul Julian, President at Advanced Real Estate
Why this matters
This acquisition underscores Advanced Real Estate's commitment to expanding its portfolio in a historically strong rental market, while also enhancing property value through strategic renovations. The focus on low-density products in the San Gabriel Valley reflects a growing trend in multifamily investments, catering to the demand for quality living spaces. This development is particularly significant for the real_estate sector.
