JV PURCHASES PORTOFINO LUXURY APTS.
FARMERS BRANCH — A joint venture between Naperville, Ill.-based The Marquette Companies and Glendale, Calif.-based American Realty Advisors has purchased the 224-unit Portofino Luxury Apartments, located at 11601 Lago Vista W. in Farmers Branch. Marquette will serve as the property manager for the facility. The property features a clubhouse with a kitchen, Internet cafe, pool, spa, fitness center and business center. CBRE Capital provided acquisition financing through Freddie Mac for the transaction.