Fairfield Residential acquired Chroma Park Apartments in Cobb County for a combined $63.4 million.

The company paid approximately $173,700 per unit for the community, which features 365 apartments with one-, two- and three-bedroom floor plans.

The Atlanta Business Chronicle reports Fairfield paid just under $36.5 million for the 17.5-acre parcel at 2105 Mesa Valley Way in Austell. The company also paid about $27 million for the adjacent 26-acre tract at 2100 Mesa Valley Way.

Both tracts were previously owned by Federal Capital Partners.

Federal Capital Partners paid $29.5 million for the 17.5-acre tract in January 2019. The company then purchased the 26-acre tract three months later for $17.7 million. 

Fairfield owns more than 44,000 multifamily units in the U.S. across its acquisitions, affordable housing developments and new construction properties.

Nat Heald, Jeffrey Dunne and David Gavin of CBRE’s National Retail Partners represented DRA Advisors and KPR Centers in the sale of Bethel Shopping Center at 83 Stony Hill Rd. in Bethel, CT. CBRE also procured the buyer, Phillips Edison & Company. Terms of the sale were not disclosed.

Located in an affluent Fairfield County market, Bethel Shopping Center is a 101,105-square-foot, 91% leased center anchored by Big Y Supermarket, Starbucks and Dollar Tree. Its tenant roster also includes Great Clips, Quest Diagnostics and Casa Tequila.

In a statement, CBRE’s National Retail Partners said, “The center’s attractive rent roll, strong grocery anchor and long-term leases provide highly stable income with further upside opportunity through lease-up of the well-positioned pad along Route 6. We continue to see tremendous demand for grocery-anchored properties across the country, with limited supply to meet the magnitude of current investor demand.”

Fairfield Residential, along with Griffin Capital, started building 2300 North Tryon, a 307-unit, five-story apartment community north of uptown Charlotte.

The Charlotte Business Journal reports the developers filed a building permit valued at $4.12 million with Mecklenburg County. Fairfield acquired the 3.6-acre parcel at 2220 N. Tryon St. last year for $9.15 million. The first units will be delivered in late 2025, with a full delivery expected sometime in 2026.

Dwell Design Studio is the project architect, Bolton & Menk is the civil engineer, and Fairfield is the general contractor. The mid-rise community will offer a mix of studio through two-bedroom units and feature a variety of tenant amenities, including a pool, fitness center, co-working lounge with a coffee bar and private offices, rooftop lounge, community dog park and pet spa, and outdoor kitchen space.

Fairfield has developed tens of thousands of apartment units across more than 30 markets, including three communities in Durham and one in Charleston, South Carolina.

Fairfield Residential paid $51.8 million for a 380-unit South Nashville apartment complex. The Landmark at Wynton Pointe apartment community, located at 1000 Enclave Circle, was purchased for about $136,289 per unit. The development has a pool, fitness area, clubhouse, barbecue grills and lighted tennis courts. Rents range from $1,100-$1,600 a unit up to 1,133 square feet.

GVA Real Estate was the seller. The Nashville Business Journal reports it’s Fairfield’s fourth purchase of a Nashville apartment this year. GVA has been the seller in all four recent deals between the two.

GVA has undertaken more than ten real estate transactions in the Nashville market since 2019 and has sold several apartment buildings to multiple out-of-town buyers in the past few months.

Fairfield Residential owns and manages residential properties in more than 35 U.S. cities.