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California  + Orange County  + Finance  | 

Advanced Refi’s Lakewood Apartments with $100M Loan

Connect Orange County is coming up July 27th at the Balboa Bay Club. Here’s where to get more information and register.

Irvine, CA-based Advanced Real Estate Services, Inc. (ARES) obtained a $100.7 million loan from Freddie Mac that was used to refinance Lakewood Manor Apartments, a 565-unit community in Lakewood, CA. NorthMarq Capital’s Mike Elmore arranged the loan.

ARES’ Richard Julian says, “With this refinance, we were able to pay off the existing loan, replenish the reserve accounts, and pull out over $40 million of excess proceeds to be used for future acquisitions.”

ARES acquired the asset in 2005, and subsequently added a neighboring five-unit property in 2012. The property is located near the Long Beach Airport, and is a short walk to the Lakewood Mall.

Upgrades to the property included new cabinets and countertops, flooring, fixtures, paint, electrical and energy efficient lighting upgrades, courtyard BBQ’s and pergolas, new roofs, as well as double-height garages that contain parking lifts.

For comments, questions or concerns, please contact Dennis Kaiser

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Connect With ARES’ JulianConnect With NorthMarq Capital’s Elmore

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Financing
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