Working on behalf of Sunroad Enterprises, JLL arranged the venture with Fairfield
SAN DIEGO, Sept. 15, 2025 /PRNewswire/ -- JLL's Capital Markets group announced today that it has arranged a $1.1 billion, 15-property, national multi-housing portfolio venture located in six states.
JLL worked on behalf of the owner, Sunroad Enterprises, to capitalize the portfolio with Fairfield, who was awarded the portfolio through a targeted marketing process. Additionally, JLL also arranged $415 million in financing for 10 assets with Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo Lender. Additionally, $250 million of financing was secured from accounts managed by global investment firm KKR.
The portfolio, which represents a portion of Sunroad's overall portfolio, was assembled over a six-year period. It totals 3,830 units and consists of six high-quality, Class A "core" assets and nine value-add assets with ongoing renovations underway. The assets have an average vintage of 2011 and are a mix of 65% garden-style communities and 35% mid-rise communities that are geographically diverse, with six in Arizona, one in Nevada, three in Colorado, two in North Carolina, two in South Carolina and one in Georgia.
According to JLL's Global Living Investment Universe 2025 report, Living is the largest sector globally and is forecast to retain the number one spot with a further $1.4 trillion in transactions over the next five years. The Living 15, the largest investment markets, contributed 98% of living investment and 32% of global commercial real estate investment over the last five years, with investment rising 19% from the previous five years.
"These assets are some of the most desirable from a location, positioning and improvement perspective," stated 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. Sunroad was focused on alternative exit strategies, which enabled liquidity to be created while not divesting of the assets. This was the perfect solution for Sunroad."
"Fairfield was attracted to the premier quality of the assets and their locations across multiple high-growth markets," said Wes Dickerson, Executive Vice President of Fairfield. "Sunroad has done an excellent job maintaining the portfolio in an institutional manner and has executed a top-of-the-line renovation strategy that we look forward to completing as partners. Fairfield has been focused on specialized recapitalization opportunities across our various investment vehicles for the past year and this transaction is representative of that strategy."
JLL Capital Market's advisory team was led by Senior Managing Directors Aldon Cole, Roberto Casas and Tim Wright and Vice President Bharat Madan. Colton Apartments in Henderson, NV, was handled by Managing Director Mark Wintner.
"This unique transaction brought together Sunroad Enterprises and Fairfield, two of the U.S.'s most capable multifamily operators," said Cole. "Despite headwinds in the broader economy, this transaction demonstrates strong demand and liquidity in the multi-housing sector for both core and value-add properties as evidenced by the scale of this transaction."
JLL's Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory, or a recapitalization. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos, and research resources, please visit JLL's newsroom.
Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.
About Fairfield
Fairfield is an owner, developer, and operator of multifamily communities throughout the U.S. We own approximately 45,500 units nationwide across luxury new construction, renovated apartment homes, and tax credit affordable housing in urban and suburban neighborhoods. We offer a vertically integrated national multifamily services platform providing development, construction, renovation, asset and property management, and acquisition and disposition services to our investors. Fairfield operates nationwide, headquartered in San Diego with regional offices in Atlanta, Boston, Dallas, Denver, and Washington, D.C. Fairfield Realty Advisors LLC is registered as an investment adviser with the U.S. Securities and Exchange Commission.
About Sunroad Enterprises
Sunroad Enterprises is a diversified and experienced holding company. Founded in 1977 in San Diego, Sunroad consists of two distinct divisions: Real Estate and Automotive. The company has built over 3,000,000 square feet of Class A office space, developed/operated the 600 slip Safe Harbor Sunroad Marina, owns or is under development on nearly 10,000 multifamily units and operates Maderas Golf Club, recently ranked by Golf Digest as a top 100 Golf Course. Sunroad Enterprises has been involved in projects in California, Colorado, Nevada, Arizona, Washington, Georgia, Tennessee, N. Carolina, S. Carolina and Mexico, and has earned numerous quality commendations from local, regional and national organizations. On the auto side, Sunroad currently owns and manages 25 new car dealerships in the US & Mexico, with annual vehicle sales in excess of 35,000 cars sold and 300,000 customers choosing Sunroad for service. Sunroad is proud to have won, amongst others, the Ford Triple Crown Award, Honda Presidents Award, Subaru Stellar Performer and BMW Center of Excellence Award. Learn more about Sunroad at sunroadenterprises.com.
About JLL
For over 200 years, JLL (NYSE:JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
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