Fairfield Pays $82M for Orlando Community
The property came online in 2019.
Fairfield Residential has acquired 400 North, a 300-unit community in Maitland, Fla., for $81.9 million, according to Yardi Matrix information. A joint venture between BLD Group and JSB Capital Group sold the Greater Orlando, Fla., asset in a JLL-brokered deal.
The buyer assumed the outstanding balance of a $52.7 million CMBS loan from Deutsche Bank and originated by Berkadia Commercial Mortgage, the same data provider shows. That loan is set to mature in 2033.
Last month, the venture between BLD Group and JSB Capital Group also sold M2 at Millenia, another Orlando asset, for $86.5 million. That community is 15 miles south of 400 North.
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Located at 400 N. Orlando Ave., the property is close to Lake Minnehaha and multiple dining options. Downtown Orlando is 9 miles away, while Orlando International Airport is 16 miles southeast.
Completed in 2019 and rising six stories, the community comprises one-, two- and three-bedroom floorplans ranging between 753 and 1,328 square feet, along with more than 27,000 square feet of first-floor retail space. Apartments have private balconies or patios.
Common-area amenities include a fitness center, a clubhouse, a business center and a swimming pool, as well as roughly 540 parking spaces. The property also has a yoga room, Wi-Fi lounge, billiards and media lounge and a dining and outdoor grilling area.
JLL Directors Ted Taylor and Kyle Butler, as well as Analyst Megan Magee, brokered the deal.
Orlando multifamily sales continue to rise
Orlando’s multifamily investment volume year-to-date as of August clocked in at $1.6 billion from the 31 properties—8,410 units—that changed hands, Yardi Matrix data shows. These figures are considerably higher than the ones registered during the same period in 2024, when only 24 assets—5,986 apartments—traded for $942.5 million.
Last month, Cantor Fitzgerald acquired a two-property portfolio in Orlando for $107.8 million. The communities total 539 units across 40 buildings.
Other notable deals include Wood Partners’ sale of Alta Deco, a 297-unit garden-style property, for $90 million. Bonaventure Senior Living purchased the 2023-completed community.
