Sunroad Enterprises has recently received a $149 million refinancing deal, arranged by JLL. The financing pertains to a portfolio of three high-end properties located in the Southeastern region of the United States. This multi-housing portfolio consists of 857 units and is situated in Georgia, South Carolina, and North Carolina.
A team from JLL led by Aldon Cole successfully secured a fixed-rate loan for three years through a life insurance company.
In 2021, Sunroad Enterprises acquired these three assets and implemented value-add business strategies that resulted in completing exterior and common area renovations for all properties as well as interior renovations for half of them.
The included properties are:
– Verde Vista: A 313-unit complex situated at 4110 Verde Vista Circle in Asheville, North Carolina.
– Avenues at Verdier Point: A 288-unit property located at 3530 Verdier Blvd. in Charleston, South Carolina.
– Adara at Godley Station (photo): A complex with256 units found on101 Spring Lakes Dr.in Savannah Georgia.
Each property boasts amenities such as resort-style pools,facilitiesfor fitness activities,recently renovated clubhouses,gaming rooms,outdoor kitchens,and more.JLL’s efforts have resultedin securinga significant refinancing amountfor these prime real estate assetslocatedintheSoutheastern US market.
