Fairfield Adds Portofino Place in West Palm Beach to Growing Portfolio

Expands Multifamily Presence in South Florida with Value-Add Investment

SAN DIEGO, Aug. 28, 2026 (GLOBE NEWSWIRE) -- Fairfield announced the acquisition of Portofino Place Apartments, a residential community located at 4400 Portofino Way in West Palm Beach, Florida.

Portofino Place is a multifamily community offering spacious one-, two-, and three-bedroom apartment homes, as well as two-story loft residences. Located minutes from Downtown West Palm Beach, the community features an extensive amenity package, including four resort-style swimming pools, 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 acquisition aligns with Fairfield's strategy of investing in multifamily communities where operational enhancements and capital improvements can support the resident experience while creating long-term value.

“This investment is a strong example of the type of value-add opportunity we continue to pursue,” said Wes Dickerson, Executive Vice President of Acquisitions for Fairfield. “West Palm Beach continues to experience population growth and demand for rental housing. We believe Portofino Place has been exceptionally maintained and is well-positioned within one of Florida's most dynamic growth markets.”

Situated in the heart of Palm Beach County, Portofino Place Apartments offers residents convenient access to Downtown West Palm Beach, major transportation corridors, employment centers, shopping, dining, entertainment destinations, and some of South Florida's most recognizable beaches. The community's combination of spacious floor plans, resort-inspired amenities, and location all contribute to its appeal as a rental housing option within the market.

“We look forward to thoughtfully enhancing the resident experience while continuing to provide a high-quality housing option for current and future residents,” Danny Frate, Vice President of Acquisitions for Fairfield, added. “We also appreciated the opportunity to work with Walker & Dunlop, who facilitated both the sale and financing of the deal.”

This acquisition further strengthens Fairfield's presence in Florida and reflects the organization’s continued commitment to identifying value-add investment opportunities in markets supported by population growth and long-term housing demand.

About Fairfield
Fairfield is an owner, developer, and operator of multifamily communities throughout the U.S. that owns approximately 50,600 units nationwide across luxury new construction, renovated apartment homes, and tax credit affordable housing in urban and suburban neighborhoods. The company offers a vertically integrated national multifamily services platform providing development, construction, renovation, asset and property management, and acquisition and disposition services to our investors. Operating nationwide, Fairfield is headquartered in San Diego with regional offices in Atlanta, Boston, Dallas, Denver, and Washington, D.C. Fairfield Realty Advisors LLC is registered as an investment adviser with the U.S. Securities and Exchange Commission.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/42f535a3-cb4f-42f1-a853-4715cc041599

Contacts:
Wes Dickerson
Executive Vice President – Acquisitions
Tel: (214) 454-6085
Email: wdickerson@ffres.com

Jordan Fraser
Director of Digital & Content Marketing
Tel: (858) 404-8190
Email: PR@ffres.com

Portofino Place Swimming Pool 2 of 4

Portofino Place Apartments in West Palm Beach, Florida, offers spacious one-, two-, and three-bedroom apartment homes, as well as two-story loft residences, and a robust amenity package.