Company News

Capital One announced today that it has provided more than $29 million in financing to Fairfield for the renovation of Grand Oaks Apartment Homes, a 216-unit affordable housing community in Chester, Virginia. The transaction included a new Low Income Housing Tax Credit (LIHTC) allocation and preserves the long term affordability of the property.

Alderwood Court Senior Affordable Apartments ranked a 95 in the 2022 State ORA®️ Power Ranking – The Top properties by ORA®️ in the 50 States and D.C. We ranked in the 99th percentile!

Fairfield held its final close on June 29, 2022 for its Fairfield U.S. Multifamily Core Plus Fund II LP (“Fund II”) with over $250.0 million of equity, bringing the total equity raised for Fund II to $750.0 million.

Fairfield is planning to hold a first closing for its open-ended Fairfield Affordable Housing Preservation Fund this month. The fund launched at the beginning of 2022 and will invest primarily in rent- and income-regulated affordable housing throughout the United States.

Woodlands at Forbes Lake Senior Affordable Apartments has been selected as the 2022 Community of the Year in the Affordables category by the Washington Multi-Family Housing Association. The state chapter of the National Apartment Association, WMFHA is a collection of over 196 property management companies and multifamily property owners representing more than 282,000 apartment homes.

JLL Capital Markets announced today that it has closed the $106 million sale of IDEA1, a 295-unit, award-winning, Class A mid-rise multi-housing community to Fairfield. IDEA1 embodies the live-work-create environment in the East Village neighborhood of downtown San Diego.

Lakeland Estates Apartments has been selected as the Winner for the 2022 Best of Stafford Awards in the category of Local Business. The Stafford Award Program supports and offers public recognition of the contributions of businesses and organizations in and around Stafford, TX.

Fairfield closed on a new development joint venture with $510.0 million of equity commitments funded by California State Teacher’s Retirement System (CalSTRS) and a sovereign wealth fund. Fairfield Suburban Development Joint Venture LP (the “Joint Venture”) closed in February 2022 and is focused on multifamily ground-up development in suburban locations in major markets throughout the U.S. This is the first Fairfield sponsored vehicle that pairs CalSTRS and a sovereign wealth investor.

Read the full article on page 6 of the Sandy Springs Reporter.

Fairfield has added Broadstone Candara in Los Angeles to its portfolio. Read the full article on Commercial Observer.