San Diego investor shells out nearly $250M for Valley apartments amid market shifts

San Diego-based Fairfield Residential has paid $244.8 million for a multifamily portfolio in metro Phoenix.

Selling the 907-unit portfolio, which includes three apartment complexes, was Sunroad Enterprises, according to Tempe-based real estate database Vizzda LLC.

This transaction adds to the 46,100 apartment units Fairfield owns and operates across 30 markets, including the 24 multifamily communities with a valuation of $1.8 billion it acquired in 2024 across the country.

Peter O’Neil, national director of research at Northmarq, said he’s seen an uptick in investments from the first quarter to the second quarter in metro Phoenix.

This story is posted in partnership with Phoenix Business Journal. Click to read the full story. 

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