OpenPath Investments Acquires Portofino Townhomes In Wilmington For $67.5M

OpenPath Investments has purchased the Portofino Townhomes, a 200-unit apartment property in Wilmington, California, for $67.5 million. The property is located at 1625 West Pacific Coast Highway and is situated in the Wilmington market. The multifamily asset offers one-, two-, and three-bedroom units with amenities such as a swimming pool, spa, and fitness center.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $67,500,000
• Address: 1625 West Pacific Coast Highway
• Market: Wilmington

Peter Slaugh of OpenPath Investments represented the buyer in the transaction. The seller, Virtu Investments, was represented by Kidder Mathews. The deal closed on 07/10/2023 with a purchase price per unit (PPU) of $337,500. The Portofino Townhomes offer a range of living options and are located approximately 20 miles south of Los Angeles.