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ECI Group Acquires Verso Luxury Apartments in Davenport, FL
ECI Group (ECI) announces the acquisition of Verso Luxury Apartments, a 250-unit, new in 2020, “Big House” concept, multifamily asset in the booming Davenport submarket of Orlando, FL. Located at the heart of Central Florida’s high-growth, I-4 corridor near master-planned communities, ChampionsGate and Reunion, Verso is a greatly differentiated apartment experience with rare walkability in a highly amenitized suburban setting.
“ECI is excited to add Verso to our growing apartment portfolio in Central/Southwest Florida where we have purchased four apartment communities totaling nearly 1,000 units for nearly $300 million in the last 12 months,” said ECI Chief Acquisitions Officer, Scott Levitt.
ECI Group announces the sale of Chatsworth Apartments in the Central Perimeter area in Chamblee, GA for $87 million
ECI Group announces the sale of Chatsworth Apartments in the Central Perimeter area in Chamblee, GA for $87 million. The 410-unit, 1980 vintage community was acquired by ECI in 2018 and underwent an extensive common area renovation over the last four years.
“ECI is proud of the renovations and repositioning at Chatsworth accomplished since we acquired it in 2018, improving the resident experience in a community within an area of high demand in the Central Perimeter submarket,” said Jimmy Baugnon, Chief Investment Officer at ECI Group. “The Chatsworth sale fits with ECI’s strategy to recycle capital from older assets and exchange into newer assets; in this case invested in our recently announced Verso acquisition in Davenport, FL.”
ECI Group Announces Opening of - The Corwyn South Point Apartments in McDonough, GA With Opening of Onsite Leasing Office, Gated, Luxury Community now at 65% Leased for Initial Released Units
ECI Group with partner Parse Capital announces The Corwyn South Point opened the community's onsite leasing office and welcomed the first residents who have taken occupancy. The Class A, newly developed, 260-unit project is located at 1000 Columns Drive in rapidly growing Henry County, GA. Resident move-ins began April 1st in the just-released first building, which is now 65% leased. The entire 10-building project is 20% preleased with move-ins scheduled for the second building later this month. The entire 10-building project is 20% preleased with move-ins scheduled for the second building later this month. The remaining 8 buildings are expected to be completed sequentially throughout the summer with construction completion in the third quarter. The Corwyn, a new Class A apartment brand for ECI, was developed by ECI Capital and constructed by ECI Construction.
ECI Group Announces Sale of Two Atlanta-Area Apartment Communities for Total of $124.75 Million
ECI Group has announced the sale of two apartment communities, The Columns at Sweetwater Creek with 270 units in Lithia Springs, GA, and The Columns at Peachtree Corners with 304 units in Norcross, GA for a total of $124.75 million.
"Unique market conditions in 2021 compelled us to make the often-difficult decision to sell assets that we developed ourselves and have operated for decades in order to exchange into new properties with similar yields but significantly less long-term operational and capital risks," said ECI Chief Acquisitions Officer, Scott Levitt. "In this instance, the sales provided us with the opportunity to close on our recently announced Orlando acquisition, Makara Orlando Apartments, as well as other footprint-expanding acquisitions."
ECI Group Acquires Conyers, GA Site for Development of 300-Unit Apartment Community
ECI Group (ECI) has closed on a development site at the intersection of Courtesy Parkway and Old Covington Highway in Conyers, GA and will start construction in January 2022 on a 300-unit apartment community, The Corwyn at Conyers, in the rapidly growing Rockdale and Newton County submarkets of Atlanta, GA.
Nashville Goes From Hot to Red-Hot
Is the metro's growth sustainable in the long term? Two ECI Group executives discuss Music City’s strengths and potential challenges down the road.
ECI Group Expands Florida Portfolio with Acquisition of Makara Orlando Apartments
ECI Group announces its acquisition of Makara Orlando Apartments, a 228-unit, nine-building, Class A apartment community in rapidly growing East Orlando.
ECI Group Acquires Channel District Site in Tampa for Development of 351-Unit Apartment Community
ECI Group and K.D. Keller Development have closed on a two-acre site in Tampa's vibrant Channel District in Tampa, FL, with plans to start construction in January 2022 on Parc Madison, a 351-unit, eight-story Class A apartment community with 6,571 square feet of ground floor retail.
ECI Group Announces $136 Million Sale of Channel Club Apartment Tower in Tampa, FL
The 22-story trophy tower, anchored by a Publix Super Market (not part of the asset sale), was developed by ECI in 2019 and features one- and two-bedroom apartments.
ECI Group Acquires Mosaic at Oak Creek Apartments
The ECI Group announces the acquisition of Mosaic at Oak Creek Apartments, a 273-unit community with 7,354 square feet of retail in Bonita Springs, FL.
ECI Group names Tim Johnson as Vice President of Resident Experience
ECI Group announces that Tim Johnson will join the company as Vice President of Resident Experience.
New Retailers Open their Doors within the NorthPointe Mixed Use Project in Greenville, SC
ECI Group announces that retailers RockBox Fitness and Barberitos Southwestern Grill & Cantina have opened to customers within the NorthPointe mixed use project located on East Stone Avenue.
ECI Group Names Eric Fenton Vice President of Development
ECI Group, an Atlanta-based, privately owned, multifamily owner and developer, welcomes longtime multifamily development executive, Eric Fenton, to the company, where he will lead their multifamily development platform in Florida.
Sun Belt Apartment Firm Hires First Chief Acquisitions Officer
ECI Capital names Scott Levitt as chief acquisitions officer. The new role includes starting and growing a dedicated multifamily acquisition platform for the firm in the Southeastern United States and Texas.
ECI Group Breaks Ground on New Apartment Complex in Growing Henry County
ECI Group is now underway on a new apartment project in Henry County, Georgia, an area that is seeing strong apartment demand despite the ongoing coronavirus pandemic.
Columns At South Point Under Construction
ECI Group of Atlanta, GA has broken ground on their new luxury apartment complex adjacent the South Point shopping center in McDonough. The project, entitled Columns at South Point, is a $45 million dollar 260-unit residential development.
ECI Group Opens Spring Hill Community
ECI Group is highlighted in the Nashville Multifamily Wrap-Up.
Our construction subsidiary completed work on The Columns on Main, less than two years after breaking ground.
NorthPointe Apartments announces first move-ins during COVID-19 pandemic
ECI Group and its partner Central Realty Holdings recently announced NorthPointe Apartments’ first move-ins. The complex is part of the mixed-used NortePointe development located at 503 E. Stone Ave. in Greenville.
JV Opens South Florida Luxury Community
ECI Group and Centurion Asset Management have opened Estero Parc, a 198-unit luxury community near Fort Myers, Fla. Truist Bank provided $30 million in construction financing in late 2018, according to Yardi Matrix, shortly before the development broke ground.
