New Development & Construction

Since 1972, Fairfield or its affiliates have acted as the general contractor or construction manager for the construction of over 66 million square feet of residential projects.

Fairfield's construction management team has built over 73,000 residential units. Additionally, Fairfield has planned and developed large-scale master-planned communities totaling over 2,000 acres in Texas and California.

Fairfield development is research driven. By continuously tracking geographic and product markets, Fairfield is ensured of being in the right place when the market conditions are favorable. Fairfield offers housing that meets the needs of the market and our investors. Site selection is based on design, and construction decisions on elements that will appeal to both levels, producing housing that is characterized by quality and affordability.

Fairfield realizes that each apartment home community must blend into its neighborhood and submarket, so each project is custom designed. Local demographics are studied to determine the renter profile and then the most appropriate product type is determined. Using prototype floor plans, the building elevations and color schemes can be carefully and economically designed to blend into its respective neighborhood.

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Acquisitions and Redevelopment

Fairfield Residential has a well-defined program of acquisitions, redevelopment planning and renovation, and property dispositions that makes its investment strategy consistently successful. Well-conceived property redevelopment and repositioning programs, which enhance the economic value of existing properties, are an attractive alternative to new construction in select markets.

Fairfield's redevelopment strategy:

• purchase properties in supply-constrained residential markets where new construction costs exceed redevelopment costs,
• make physical improvements to the property to enhance its livability, value, marketability and image that result in increased rental income and property values,
• add Fairfield-trained, professional property management teams to enhance leasing; and
• market and sell newly renovated properties at the value-added sales price.

Fairfield's recovering markets strategy takes advantage of the current soft economic environment in markets with long-term job and population growth. These target markets are expected to recover at a faster rate than the nation as a whole.

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Student Housing

In 1998, Fairfield started its Student Housing Division. By 1999, two student-oriented communities were well under construction. Since then, Fairfield has completed nine communities totalling over 6,750 beds with another 2000 beds planned.

Fairfield's off-campus student housing is ideally suited for college students because it offers an environment conducive to study and group recreation.

Fairfield's student housing properties, called The Exchange, provide attractive and efficient living quarters that appeal to students, their parents, and institutional investors.

The design is centered on a private bedroom with a key-locked door, a bed, dresser, desk with shelves, telecommunications, high-speed Internet access and private bath. This room is typically in a suite with one to three other similar rooms, and the suite includes a living room and a kitchen. A limited number of one-bedroom units are also built. Recreational amenities include a large clubhouse with computer lab, state-of-the-art fitness center, study rooms, TV room, pool tables, a resort style swimming pool, sand volleyball and basketball courts.

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Workforce Housing

Fairfield has provided attractive workforce housing since 1985 and is one of the country's preeminent authorities on using tax credit equity in conjunction with tax-exempt bond financing to acquire, renovate and position apartment communities as long-term investments.

Fairfield is committed to providing quality workforce housing that blends with each community's surroundings and are virtually indistinguishable from market rate luxury apartment homes.

The Fairfield team has

• built or redeveloped over 10,000 apartment homes with an affordable housing component,
• a staff committed solely to providing quality affordable homes in the workforce housing market,
• an in-house team of bond and tax credit financing specialists; and
• skilled and professional property management teams, well trained in HUD Section 8 rules and regulations, Section 42 tax credit requirements and compliance, and tenant problem-solving.

Fairfield works with communities to secure entitlements to provide inclusionary housing, by partnering with nonprofit organizations and local municipalities, Fairfield provides quality workforce housing and beneficial resident social services.

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Property Management

Fairfield Properties is a national, full service property management company with 20 years of property management experience.
As the nation's 13th largest multifamily home property management company, Fairfield has a management portfolio of 55,000
apartment homes at over 135 properties across 14 states. Fairfield specializes in the lease-up of newly constructed properties,
and also manages stabilized and turn-around properties.

Fairfield Properties is a performance-oriented organization, focusing on the property owner's goals and investment objectives. Every member of the Fairfield team understands and concentrates on achieving peak financial performance for the property owner, and this goal underlies every decision made and every action taken. Through this performance orientation, Fairfield has achieved respect among some of the largest, most well established financial institutions in the United States.

Fairfield Properties provides a property management program designed to:

• optimize operating cash flow,
• maintain asset condition and quality; and
• maximize long-term asset value.

Fairfield holds an AMO® (Accredited Management Organization) designation with the Institute of Real Estate Management. This designation assures our partners that the standards required and expected by the top institutional real estate investors across the country are being met.

Fairfield Properties offers a wide range of resources to provide full-service management for clients and their assets. State-of-the art management and property accounting systems are in place to monitor traffic, market data, occupancy, and rental income and expenses. Fairfield offers extensive personnel training, a property development (construction and rehabilitation) division, as well as a full-service marketing department. Fairfield brings a high level of management and marketing expertise to solving the challenges inherent in new construction, stabilized and newly renovated properties.

Few other nationwide management operations can offer the depth of experience, regional expertise, and proven “turn-around” capabilities as Fairfield Properties.

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Property Sales

Property sales is a core business for Fairfield and is fundamental to the company's fully integrated, multifamily housing operations.

Fairfield established an in-house dispositions department in 1995 to maximize investment returns, and has since completed the sale of nearly 200 apartment communities totaling 54,326 units valued at nearly $4.7 billion.

Fairfield maintains a marketing database that consists of over 3,000 principals and brokers and, in addition to traditional sales methods, employs state-of-the-art marketing tools such as electronic mailings and Internet listings. Fairfield's property marketing website includes property summaries, area maps, photographs and floor plans.

Property performance in monitored monthly on an asset-by-asset basis in an effort to identify appropriate sale timing to identify the best disposition process to employ for the sale. Fairfield actively markets properties to both private and institutional buyers to achieve the highest returns possible for its investment partners.

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