Advanced Real Estate acquired two multifamily towers in Hollywood from Kilroy Realty for $202 million, marking Southern California's largest multifamily deal of the year. The two developments total 393 units.
The transaction reflects ongoing activity in apartment markets despite a construction pipeline at historic lows. Kilroy Realty, a Los Angeles-based REIT, divested the properties as part of broader portfolio movements across the region.
Multifamily assets in Hollywood remain attractive to institutional buyers even as development slows. The deal underscores how existing inventory trades hands more actively when new supply constraints persist. Southern California's apartment market continues to see investment capital target established properties over new construction projects.