Sunroad Enterprises is the beneficiary of a $149 million refinancing arranged by JLL. The financing involves a portfolio made up of three luxury properties in the Southeastern US. The 857-unit multi-housing portfolio is located in Georgia, South Carolina and North Carolina.
A JLL team led by Aldon Cole secured a three-year, fixed-rate loan through a life insurance company.
Sunroad Enterprises acquired the three assets in 2021 and executed value-add business plans, completing 100% of exterior and common area renovations and 50% of interior renovations.
The properties within the portfolio include.
The 313-unit Verde Vista, located at 4110 Verde Vista Circle in Asheville, North Carolina
The 288-unit Avenues at Verdier Point, located at 3530 Verdier Blvd. in Charleston, South Carolina
The 256-unit Adara at Godley Station (photo) located at 101 Spring Lakes Dr. in Savannah, Georgia
All three properties include a resort-style pool, a fitness center, renovated clubhouses, game rooms, outdoor kitchens and more.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.