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Cortland Sells $208M Palm Beach Apartment Complex | Real Estate News
Cortland just cashed in big time, selling West Palm Beach’s Portofino Place—a sprawling 812-unit complex—for $208 million, the second-largest multifamily deal in South Florida this year. Fairfield Residential snapped it up at nearly $256K per unit as the market stabilizes after a slowdown. While leasing is finally outpacing new construction for the first time in years, rents are gently falling to around $2,279—still with landlords throwing free months to lure tenants. And Cortland’s not done yet—they pulled off another massive sale just months ago in Boca Raton. Listen in comfort:Get a…
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