Fairfield recently closed on the acquisition of four multifamily communities with plans to add value through renovations. Parkfield Apartment Homes and Sienna at Cherry Creek Apartments are the organization’s third and fourth assets acquired in Colorado this year, adding 476 and 220 apartment homes, respectively, to Fairfield’s footprint. Deerwood Apartments and Marquessa Villas Apartments and Townhomes add 316 and 336 homes, respectively, in Southern California.
“These four assets provide immediate scale to both submarkets for Fairfield and are true value-add opportunities with incredible upside potential,” said Jason de Guzman, vice president of acquisitions at Fairfield. “Parkfield and Sienna at Cherry Creek are important additions to our strategy in Colorado, and Deerwood and Marquessa Villas are well-performing assets in California’s Inland Empire, a submarket that we have historically performed well in.”
