JLL Capital Markets Arranges $1.1B National Apartment Portfolio Deal
JLL’s Capital Markets group has arranged a $1.1 billion venture involving a 15-property national apartment portfolio spanning six states. The transaction was facilitated on behalf of Sunroad Enterprises, with Fairfield selected as the capital partner following a targeted marketing process.
As part of the deal, JLL also arranged $415 million in financing for 10 of the assets through Freddie Mac. In addition, $250 million was secured from accounts managed by investment firm KKR.
The portfolio, which represents a significant portion of Sunroad’s multi-year investment strategy, has been assembled over the past six years. It includes a total of 3,830 residential units across 15 properties, comprising six Class A communities and nine value-add properties currently undergoing renovations.
Geographically, the assets are located across six key markets: six in Arizona, one in Nevada, three in Colorado, two in North Carolina, two in South Carolina, and one in Georgia.
“These assets are some of the most desirable from a location, positioning, and improvement perspective,” said Dan Feldman, President of Sunroad Asset Management. “JLL conducted a strategic analysis of top-tier capital partners, and Fairfield, with their strong financial backing, made sense for us.”
The JLL advisory team was led by Senior Managing Directors Aldon Cole, Roberto Casas, and Tim Wright, along with Vice President Bharat Madan. The transaction involving Colton Apartments in Henderson, Nevada, was handled by Managing Director Mark Wintner.
