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JLL Capital Markets Structures $1.1-Billion National Apartment Portfolio Venture

Company: 

JLL, Sunroad Enterprises

JLL Capital Markets arranged a $1.1-billion venture involving a 15-property, 3,830-unit apartment portfolio assembled by Sunroad Enterprises over six years. The portfolio spans six states and was awarded to Fairfield through a targeted marketing process.

The portfolio, which represents a portion of Sunroad’s overall holdings, includes six Class A properties and nine value-add communities undergoing renovations. The assets are in Arizona, Nevada, Colorado, North Carolina, South Carolina and Georgia.

JLL also arranged $415 million in financing from Freddie Mac for 10 of the properties, with an additional $250 million secured from KKR-managed accounts.

JLL’s advisory team included senior managing directors Aldon Cole, Roberto Casas and Tim Wright and Vice President Bharat Madan. Managing Director Mark Wintner handled Colton Apartments in Henderson, NV.

These are some of the reasons why the Sunroad Enterprises-JLL Capital Markets financing deal was selected to receive ApartmentBuildings.com’s AB 100 Transaction of the Year Award, which recognizes those who demonstrate creativity, skill and success in the multifamily industry.

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