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Anaheim is a hot market for multifamily investment—but opportunities are limited. Advanced Real Estate Services has acquired a 251-unit mixed-use property in Platinum Triangle in Anaheim for $112 million. The firm is an active investor in Anaheim with more than 1,500 units in the market, and it has witnessed first hand the growing demand and competition. We sat down with Paul Julian, president of ARES, to talk about the investment activity in Anaheim and to get an inside look at the deal.

GlobeSt.com: Give me a snapshot of the multifamily activity in this submarket.

Paul Julian: We have heard of only one other property that is potentially going to trade in this submarket this year. Many of the other owners are REITs, which are typically long-term holders. There are also a couple of large, private, local owners in the market with even longer-hold horizons, similar to us. The only sellers are merchant builders who will be selling once their properties are completed. These properties will most likely be snatched up quickly.  The available land for new supply is limited and once the remaining units are built-out this submarket will be like every other in Orange County, highly supply constrained. We see great upside in the market as LT Global and Lennar each add a significant retail base with their developments on either side of our property.  We feel this will provide our residents an exciting neighborhood in which to live.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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