IRVINE, CA – Advanced Real Estate, an Irvine-based multifamily investment firm, has bought The Cove at West Covina, a 138-unit apartment community located in West Covina, California, for $41 million. The buy expands the company s growing Southern California portfolio, which now exceeds 12,000 residential units across the region. The acquisition reflects Advanced Real Estate s continued strategy of targeting well-located suburban assets with strong value-add potential and stable long-term fundamentals.
“The Cove is well located, with large units averaging over 1,000 square feet. It’s rare to find such an attractive unit mix for under $300,000 per unit,” said Rick Julian, CEO of Advanced.
“West Covina has been a historically strong rental market with abundant retail and employment and very small new competing supply. The last significant new multifamily development was completed over 12 years ago,” said Paul Julian, Rick’s son and president of Advanced. “We see fantastic value in this type of low-density product in the San Gabriel Valley.”
Advanced plans to make significant renovations and upgrades to the property, including the addition of in-unit washers and dryers, new cabinetry, flooring, fixtures, appliances, windows and a modern paint scheme. These upgrades will be completed by R3 Construction (Advanced’s in-house construction company) and Advanced Management Company (its in-house property management company).
The gated community offers a wide range of lifestyle amenities designed to enhance resident comfort and convenience. Highlights include two resort-style swimming pools with cabanas and lounge areas, a fitness center equipped with state-of-the-art exercise equipment, and inviting outdoor firepits that provide a welcoming social atmosphere. Residents also benefit from a spacious, perfectly landscaped central courtyard, offering open green space for relaxation, recreation, and community gatherings.
This is the first buy for Advanced’s new Opportunity Fund (Advanced Fund 24-3). The company plans to make more Southern California apartment acquisitions in the coming year.
Advanced’s investment offerings are open to its “friends and family” network, which has now grown to over 1,000 investors. “We have a unique tax-efficient structure, allowing investors to use their trapped retirement funds for the bulk of their investment and leverage a smaller personal contribution of cash,” said Rick. “We are always open to welcoming new investors.”

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KENT, WA – MG Properties, a privately held real estate investment company headquartered in San Diego, announced the acquisition of Dockside Apartments, a premier multifamily community situated within the Lakes at Kent master plotted community located in Kent, Washington.
Dockside Apartments is a 344-unit garden-style apartment community nestled along the Green River. Offering a unique blend of natural beauty and urban convenience, the property features spacious one-, two-, and three-bedroom residences, with modern interiors, open-concept layouts, and private outdoor spaces. Its scenic setting and proximity to Seattle make it a highly desirable retreat for residents seeking both relaxation and connectivity.
The community boasts an extensive suite of lifestyle amenities, including a resort-style swimming pool, three-level fitness center, clubhouse with lounge and kitchen, outdoor grilling areas, pet park, and more. Dockside Apartments aligns with MG Properties’ ongoing strategy of acquiring high-quality, well-located properties in strong West Coast markets.
“We are excited to add Dockside Apartments to our growing Pacific Northwest portfolio,” said Jeff Gleiberman, President of MG Properties. “Its ideal location, strong resident demand, and potential for continued growth make it a perfect fit for our long-term investment strategy.”
The seller was represented by Eli Hanacek, Mark Washington, Kyle Yamamoto and Natalie Kasper from CBRE. Financing for the transaction was led by CBRE Capital Markets’ Troy Tegeler and Trevor Breaux.
Dockside Apartments marks MG Properties’ 11th acquisition in the Seattle metro area and further reinforces its commitment to expanding its presence in dynamic, high-growth markets.

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VIRGINIA BEACH, VA – Affiliates of Harbor Group International, a privately owned international real estate investment and management firm, announced the $86 million acquisition of Reflections at Virginia Beach, a 480-unit garden-style multifamily community in Virginia Beach, Virginia. The acquisition is a strategic expansion of HGI’s portfolio in its home state, strengthening its presence in a market where it maintains a proven track record and deep operational experience with similar assets.
Built in 1986, the community spans 19 two- and three-tale residential buildings across 30 acres. The property offers a mix of one- and two-bedroom apartments with 828 parking spaces for residents.
Reflections at Virginia Beach recently underwent a $7 million capital improvement program, enhancing its robust suite of amenities, including a resident clubhouse and lounge, an outdoor swimming pool, a 24-hour fitness center, a business center with meeting rooms, outdoor grilling stations and access to nearby nature trails. The property is also a small drive to the Virginia Beach oceanfront.
“The acquisition of Reflections at Virginia Beach underscores our commitment to expanding thoughtfully in markets where we have long-standing experience and strong performance,” said Yisroel Berg, Chief Investment Officer of Multifamily at HGI. “Virginia Beach is a dynamic market with robust employment and lifestyle fundamentals, making it an ideal location for our continued growth.”
Located just 15 minutes from HGI’s corporate headquarters in Norfolk, the acquisition builds on the firm’s established local presence. The company currently owns or manages over 1,400 units across five properties within the Hampton Roads metropolitan area.

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