An Affiliate of Walton Street Capital, L.L.C. Acquires Pacifica, a 324-unit Apartment Complex Near West Palm Beach

An affiliate of Walton Street Capital, L.L.C. (“Walton Street”) announced that it has acquired a newly built 324-unit apartment complex located at 1100 Audace Avenue in Boynton Beach, FL (“Pacifica” or the “property”).

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Pacifica, a 324-unit apartment complex near West Palm Beach (Photo: Business Wire)

Completed in 2020, the property consists of one-, two-, and three-bedroom apartments across six mid-rise elevator buildings that are currently 99% leased. It features modern amenities and contemporary interior finishes. Unit finishes include 9.6 ft. ceilings, private balcony/patios, soft-close Italian cabinetry, open-concept kitchen with quartz islands and stainless-steel appliances. Community amenities feature a two-story, resort-style clubhouse overlooking a pool, two parks with ample green space, playground, game room, kitchen/bar, state-of-the-art fitness center with yoga room and spin studio, conference rooms, and Luxer One automated package system.

Pacifica is situated in downtown Boynton Beach adjacent to the Town Square complex and features immediate access to I-95 making it a 40-minute drive from downtown Fort Lauderdale and a 15-minute drive to downtown West Palm Beach. Residents at Pacifica enjoy the property’s proximity to parks and beaches along with the variety of shopping and dining options nearby.

“This was an attractive opportunity to acquire a high-quality, well-leased, and newly built multifamily asset in a growing South Florida market in a direct transaction with the developer. We are excited to further expand our multifamily and housing portfolio in markets that are demonstrating strong employment and population growth,” said Stephen Sotoloff, Senior Principal at Walton Street.

About Walton Street Capital, L.L.C.: Walton Street is a private equity real estate fund manager that, since its inception in 1994 through its affiliates, has raised over $14 billion of capital commitments from a broad cross-section of sophisticated institutional investors. Walton Street’s senior management has collectively acquired, financed, managed and sold over $50 billion of real estate and have an average of 21 years of real estate industry experience. Senior management has collectively invested and managed both real estate equity and debt through several real estate cycles over five separate decades and more than 40 years, forging long-term and deep relationships with lenders, public and private real estate owners, operators, brokers, managers, and industry service providers.

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