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ECI Group Dips into Charleston with Acquisition of Park Circle Multifamily
Atlanta, GA-based ECI Group has acquired The Factory at Garco Park, a 271-unit multifamily community in the Park Circle neighborhood of North Charleston, SC.
Alex Okulski of Newmark represented the seller and financing for the acquisition was provided by SouthState Bank.
The Factory at Garco Park is ECI’s first investment in the Charleston and, with assets in Greenville and Savannah, its fourth in the Carolinas/Southeast Georgia region.
“The Factory at Garco Park offers ECI an opportunity to recycle capital from our recent sale of The Columns at Vinings in Atlanta into a very high quality, exceptionally well-located asset in a top expansion market for us,” said ECI chief acquisitions officer, Scott Levitt. The 1031 exchange involving these properties is the 5th such transaction for ECI in the last 18 months.
The Factory at Garco Park, located at 4993 O’Hear Avenue in North Charleston. The community’s walkable experience has made it popular with young professionals.
- ◦Sale/Acquisition
