I don't know the aparments in question, but Faro Airport to Praia da Rocha is between 50 minutes and one hour by car.
If not hiring a car, your best bet will be a direct airport transfer.
If diskwizz is floating around the forums, he can probably help with more local info.
Club Arcos actually seems to be located near Praia da Vau which is about 1km from Praia da Rocha proper.
See this link for google maps/satellite photo.
http://bit.ly/6bQEsF
