The purchase will expand Advanced's portfolio to about 12,000 units. The remodel will be constructed by Advanced's in-house firm R3 Construction. It will build resort-style pools and spas, an extensive dog park and barbecue areas. Units will feature washers and dryers, along with new cabinetry, flooring and fixtures. Property management will be handled in-house by the Advanced Management Company division.
It is rare to find an opportunity to buy such a large asset in coastal Orange County. We want to continue to grow the portfolio, Julian said in a statement.
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