The Circle Apartments The Circle Apartments

Advanced Real Estate Services has acquired a 235-unit apartment property in Long Beach. The investor plans to rebrand the property as The Circle Apartments at Long Beach, and will invest an additional $6 million on capital improvements for the property.

Kevin MacKenzie and Greg Brown from JLL's Newport Beach office arranged a $46.8 million, 3.41%, 10-year, interest-only, Freddie Mac loan on behalf of ARES for this property.

Located in the Traffic Circle, the property has 3 pools, a fitness center and lounge. Interior unit upgrades will include new flooring, paint, fixtures, and smart locks.

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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.