Chicago-based Waterton Associates has acquired the second phase of the Port Royale apartments along the Intracoastal Waterway in Fort Lauderdale for $94 million. Placed on a 21.5-acre site on Port Royale Blvd, Port Royale Drive N., Port Royale Drive S. the property traded for $169,982 per unit. The apartments were completed in 1991 and now offer two pools, a racquetball court, a basketball court, a fitness center and a yoga studio. The seller, Dallas based Mill Creek Residential, did not include the first phase of the complex in the sale, which was completed with a $70 million mortgage provided by Bank of America.
