Fairfield Acquires 812-Unit Apartment Community in West Palm Beach from Cortland for $208M

WEST PALM BEACH, FLA. — Fairfield, a multifamily owner-operator based in San Diego, has acquired Portofino Place Apartments in West Palm Beach. Atlanta-based Cortland sold the 812-unit property to Fairfield for $208 million, according to multiple media outlets.

Located at 4400 Portofino Way in West Palm Beach, Portofino Place features one-, two- and three-bedroom layouts, as well as two-story loft residences. Amenities include four resort-style swimming pools, a 24-hour fitness center, yoga studio, pickleball and tennis courts, indoor basketball court, coworking space, dog park and multiple social and recreation areas.

Walker & Dunlop arranged the financing and brokered the transaction, according to Fairfield.