DLP Capital, a private real estate investment and finance firm, announces the acquisition of Portofino, two Class A residential buildings in St. Augustine, FL from Deltona Corporation for $9.3 million.
Located at 209 & 213 Cantabria Way, St. Augustine, FL 32086, Portofino consists of two three-story Class A luxury-style buildings consisting of 28 total two and three-bedroom units. DLP intends to build 112 additional units on the property, totaling 140 units on-site once the project is completed. Additionally, DLP will rebrand the properties under new name DLP Portofino in the near future.
DLP values this location’s accessibility to top-rated schools and proximity to Flagler Hospital, Flagler College, Northrop Grumman, and retail options such as shopping centers and restaurants.
Amenities at DLP Portofino include a resort-style swimming pool, onsite interior parking, storage units, luxury kitchens and baths in each apartment.