WEST PALM BEACH, FLA. — San Diego-based Fairfield Residential has acquired the 812-unit Portofino Place in West Palm Beach. The asset sold for $208 million, and the seller was Atlanta-based Cortland Partners, according to the South Florida Business Journal. Located at 4400 and 4600 Portofino Way, the property is comprised of one-, two- and three-bedroom apartments as well as two-story lofts and four resort-style pools.
Additional amenities include a 24-hour fitness center, yoga studio, pickleball and tennis courts, indoor basketball court, coworking space, dog park, guest suite accommodations and multiple social and recreation areas. The property is comprised of two communities that operate as one, Portofino Place East, which was developed in 2003, and Portofino Place West, built in 2006. Walker & Dunlop arranged the sale as well as acquisition financing.