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ECI Group Sells Two Atlanta-Area Apartment Communities for $125M
ECI Group has sold 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 $124.8 million.
Jason Nettles and Megan Thompson at NorthMarq represented ECI Group in The Columns at Sweetwater Creek transaction while Kevin Geiger at CBRE did so for The Columns at Peachtree Corners transaction.
“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.
Sweetwater Creek was developed by ECI Group in 2000. Peachtree Corners was developed by ECI Group in 1980 and has been owned and managed by the company for more than 40 years.
- ◦Sale/Acquisition
