Fairfield Residential Acquires MultiFamily Portfolio From Sunroad Enterprises For $244.8 Million

The transaction involved a multi-family property portfolio consisting of three locations situated at 875 West Pecos Road, 7455 North 95th Avenue, and 9450 West Cabela Drive within the Chandler and Glendale markets in Arizona. The entire portfolio was sold for a total of $244.8 million, which translates to an average price per unit of approximately $269,901 across the 907 units included in the deal.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $244,800,000
• Buyer: Fairfield Residential
• Seller: Sunroad Enterprises
• Units: 907
• Price per Unit: $269,901

Following the acquisition, Fairfield Residential expanded its portfolio to include a total of 46,100 units valued at $1.8 billion. Sunroad Enterprises has successfully sold the multi-family portfolio, establishing a significant transaction in the Phoenix real estate market.