JLL Facilitates a Major $1.1 Billion Multi-Housing Portfolio Deal Across Six States

Major $1.1 Billion Multi-Housing Portfolio Transaction Arranged by JLL

In a remarkable development within the real estate sector, JLL's Capital Markets group has successfully orchestrated a substantial transaction valued at $1.1 billion, which encompasses a portfolio of 15 multi-housing properties spread across six states. This strategic move was executed on behalf of Sunroad Enterprises, an established player in the real estate market.

Portfolio Overview

The extensive portfolio consists of 3,830 units featuring a diverse mix of residential options, including six high-quality, Class A 'core' assets alongside nine value-add assets currently undergoing renovations. The properties included in this impressive portfolio showcase a solid geographical presence, with locations in Arizona, Nevada, Colorado, North Carolina, South Carolina, and Georgia. The average vintage of the properties is 2011, consisting predominantly of garden-style communities which make up 65%, and mid-rise communities at 35%.

Through a rigorous marketing process, JLL was able to facilitate the portfolio's partnership with Fairfield, a reputable company recognized for its financial robustness and real estate expertise. Additionally, JLL secured financing amounting to $415 million for 10 of these assets via Freddie Mac and a further $250 million from accounts managed by KKR, a global investment firm.

Industry Insights

According to JLL's Global Living Investment Universe 2025 report, the living sector continues to be the largest globally, projecting an additional $1.4 trillion in transactions over the next five years. This forecast underscores the increasing importance of living investments, indicating a rising trend towards multi-housing sectors, which have demonstrated a 19% investment increase compared to the previous five years.

Dan Feldman, President of Sunroad Asset Management, expressed that the strategic collaboration with JLL and selection of Fairfield was driven by the desire for desirable assets that not only hold valuable market positions but also a well-executed renovation strategy. “JLL's comprehensive analysis of premier capital partners steered us towards Fairfield, aligning with our alternative exit strategies to maintain liquidity without divesting our assets. This partnership was a perfect fit for Sunroad,” he stated.

Additionally, Wes Dickerson, Executive Vice President of Fairfield, noted their appeal towards the exceptional quality and strategic locations of the assets, emphasizing that Sunroad's management has adeptly maintained the portfolio with institutional attention and a world-class renovation strategy, aiming to complete their partnership aspirations.

Conclusion

This transaction signifies a noteworthy collaboration between Sunroad Enterprises and Fairfield, highlighting the vibrant demand for both core and value-add properties, even amidst economic fluctuations. JLL's Capital Markets group, with a robust global presence and deep understanding of local markets, continues to solidify its role as a leading provider of capital solutions in real estate.

JLL’s Capital Markets advisory team was led by senior managing directors Aldon Cole, Roberto Casas, and Tim Wright, with significant contributions from vice president Bharat Madan and managing director Mark Wintner.

For those interested in the latest trends and developments within real estate investment, JLL remains at the forefront, fostering opportunities for both investors and property developers through their extensive market knowledge and strategic insights.