Investing

Chicago-based investor acquires Fort Lauderdale community

This isn't the first purchase in Florida for the investor
  • Chicago-based real estate investor Waterton announced November 18 that it acquired Port Royale in Fort Lauderdale
  • Waterton owns seven communities in the region comprising more than 3,100 units
  • The location was a desirable one for investors due to the close proximity of two major economic hubs in South Florida

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Chicago-based real estate investor Waterton announced November 18 that it acquired Port Royale in Fort Lauderdale, which is one of three rental communities along the Intracoastal Waterway. The apartment community features 553 garden-style units with access to a plethora of amenities and entertainment options. Waterton has a reputation for investing in Florida properties, along the Southeast coast, Southwest coast and in Central Florida. The company owns seven communities in the region comprising more than 3,100 units. Rudy Balasko / Shutterstock.com The company is planning to add some value to the properties as well by improving the on-site amenities, such as adding new flooring, granite countertops, updated fixtures, stainless steel appliances and more. Community members also have access to a two-level fitness center, yoga studio, two outdoor swimming pools, a community grilling area, on-site marina and walking paths. Port Royale's ideal location near downtown Fort La...