ECI Group Secures $17.66 Million Loan for Multifamily Project
ECI Group Closes $17.66 Million Mezzanine Loan
Recently, ECI Group, through its private lending platform, successfully closed a substantial $17.66 million mezzanine loan aimed at financing the development of Lynwind Apartments. This multifamily project, boasting 384 units, stands out due to its impressive occupancy rate and modern amenities.
Strategic Partnership with Smith Hill Capital and InterVest
This financing venture marks an important collaboration between ECI Group and its partners, Smith Hill Capital and InterVest. By leveraging their collective expertise, the trio aims to navigate the current complexities of debt and capital markets, showcasing their commitment to providing quality financing solutions.
Remarks from ECI Leadership
In a statement, John Clair, ECI's Director of Finance, emphasized the synergetic capabilities of their lending platform, stating, "The Lynwind transaction highlights our ability to adapt and provide targeted debt and equity solutions tailored for institutional-quality multifamily owners across the Southeastern region."
About Lynwind Apartments
Lynwind Apartments, completed in a recent year, spans across 26.6 acres and features modern one-, two-, three-, and four-bedroom apartments. Designed with the living experience in mind, this community offers designer finishes and an array of amenities, including a pool, gym, and yoga studio set within a serene environment.
Location Benefits
Situated near the vibrant Ovation retail center and world-class recreational hubs, the location of Lynwind Apartments provides residents with access to numerous lifestyle conveniences, ensuring an enriching living experience.
Investor Confidence
Brendan McCormick, Managing Principal at Smith Hill, expressed enthusiasm regarding this collaboration. He noted, "We're delighted to partner with ECI and InterVest on this project, which highlights financing tailored for the specific needs of the multifamily market, particularly in today's economic recovery landscape."
ECI Group's Legacy and Future
For over five decades, ECI Group has established itself as a reputable player within the real estate industry in the United States. The company takes pride in its integrated approach, encompassing development, construction, investment, and property management, which allows for innovation and excellence in the multifamily sector.
Commitment to Growth
With a portfolio comprising more than 7,000 units throughout the Southeast and Texas, ECI is well-positioned for continuous growth and leadership within the multifamily sphere. They remain dedicated to advancing their strategies in delivering effective real estate solutions.
Media Contact Information
For further queries, Karen Widmayer from KW Communications, LLC is the point of contact. She can be reached at karenwidmayerpr@gmail.com or via phone at 301.661.1448.
Frequently Asked Questions
What is the amount of the loan provided by ECI Group?
The loan amount secured by ECI Group for the Lynwind Apartments development is $17.66 million.
Who are the partners involved in the financing of Lynwind Apartments?
The financing involves a collaboration between ECI Group, Smith Hill Capital, and InterVest.
What type of units does Lynwind Apartments offer?
Lynwind Apartments offers one-, two-, three-, and four-bedroom apartments with modern designs and amenities.
How long has ECI Group been in the real estate industry?
ECI Group has been a prominent player in the real estate industry for over 50 years.
Where can more information about ECI Group be found?
More information can be obtained through their official website at www.ecigroups.com.
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