ECI Group Expands Its Portfolio with New Apartment Acquisition
ECI Group's Strategic Acquisition of The Averly at Flowers Apartments
In a significant move to enhance its portfolio, ECI Group has successfully acquired Ardmore at Flowers Apartments, a prominent 396-unit apartment complex. Nestled within the vast Flowers Plantation community, this new addition showcases ECI's commitment to expanding its footprint in the multifamily housing market.
The New Chapter at The Averly at Flowers
The complex, now rebranded as The Averly at Flowers, consists of 11 buildings and offers a unique living experience. Although the financial details of the acquisition were not revealed, the deal represents ECI's first partnership with Almanac Realty Investors, a division of Neuberger-Berman. This collaboration follows a substantial capital infusion designed to fuel ECI's growth initiatives.
Why Choose The Averly at Flowers?
Residents of The Averly will benefit from an array of modern amenities placed in a desirable location. The community stands out because of its proximity to essential services like Publix and Harris Teeter, as well as access to recreational spaces and top-tier educational institutions. As the area continues to evolve, residents can look forward to an additional 50,000 square feet of commercial space by 2026, enhancing the convenience and vibrancy of the community.
Luxury Living Features
The Averly at Flowers apartments boast contemporary designs with upscale features, ensuring ultimate comfort and style. The apartments come equipped with:
- Modern kitchen amenities with stylish cabinetry and granite countertops.
- In-unit washers and dryers for added convenience.
- Spacious walk-in closets to accommodate personal belongings.
- Open-concept layouts enhancing the overall space and flow.
- Private outdoor areas including balconies or patios.
- Smart home technology for modern living.
A Wealth of Amenities
Beyond the apartments themselves, The Averly at Flowers features a comprehensive set of amenities geared towards enhancing the resident experience:
- A state-of-the-art fitness center with 24-hour access.
- Multiple swimming pools designed for relaxation and recreation.
- A stylish clubhouse that fosters community engagement.
- Outdoor grilling areas perfect for social gatherings.
- A dedicated pet spa to pamper furry residents.
Future Prospects with ECI Group
Scott Levitt, Chief Acquisitions Officer at ECI Group, shared that the company is thrilled to strengthen its presence in the Southeast through this acquisition. He emphasized that securing properties below replacement costs in fast-growing submarkets is pivotal for future success. ECI aims to explore further opportunities in the region and even expand into Texas, leveraging their new partnership with Almanac Realty Investors.
Expert Collaboration in Real Estate Transactions
ECI Group expresses its gratitude to key partners that played a crucial role in executing this transaction, including experts from Cushman & Wakefield and CBRE. Their efforts have been indispensable in navigating this acquisition and ensuring its success.
About ECI Group
With over five decades of expertise, ECI Group has positioned itself as a premier entity within the real estate sector, focusing on development, construction, and property management. Their extensive portfolio encompasses more than 7,000 multifamily units across the Southeast and Texas, demonstrating their ongoing commitment to quality and innovation.
Frequently Asked Questions
What makes The Averly at Flowers stand out?
The Averly at Flowers stands out due to its modern features, convenient location in a growing community, and a wide range of amenities.
Who is ECI Group partnering with for this acquisition?
ECI Group is partnering with Almanac Realty Investors, a division of Neuberger-Berman, for this acquisition.
What type of apartments does The Averly at Flowers offer?
The Averly at Flowers offers upscale one-, two-, and three-bedroom apartments with open-concept layouts.
What amenities can residents expect at The Averly?
Residents can enjoy fitness centers, resort-style pools, a clubhouse, and pet care facilities, among other amenities.
How long has ECI Group been in the real estate industry?
ECI Group has over 50 years of experience in the real estate industry, focusing on multifamily developments.
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