ECI Group Acquires 260-Unit Longitude 81 Apartments in Estero, FL
ATLANTA, June 22, 2023 — ECI Group (ECI) announces the acquisition of Longitude 81 Apartments, a 260-unit, upscale apartment community at 11221 Everblades Parkway in Estero, FL. Built in 2016, Longitude 81 encompasses 11, two-story apartment buildings on 17.95 acres centrally located in the desirable Village of Estero. The community will be re-branded as Waterline Estero.
“The acquisition of Longitude 81 continues ECI’s strategy of reinvesting capital in our business, in this case, recycled from our recent sale of The Columns at Paxton Lane earlier this spring,” said ECI Chief Acquisition Officer, Scott Levitt. “Southwest Florida is one of the fastest growing regions in the state. Given our expectation for strong continued growth and the fact that there is a material rent differential between Longitude 81 and two similar assets we own nearby, we are excited about the value creation potential at this property, which could include a renovation-upgrade program in the future.” Waterline Estero will be ECI’s third asset in Lee County and the surrounding area.
Longitude 81 residents enjoy exceptional access to Lee County’s abundant recreational activities and venues, including Major League Baseball spring training facilities, family-friendly water parks, nature sanctuaries, and nearby white sand beaches. The community is within walking distance of restaurants, shopping areas, and medical facilities and just 12 minutes to Southwest Florida International Airport.
Longitude 81 features upscale studio, one-, two- and three-bedroom townhome-style apartments with private, ground-floor entrances. Apartments feature:
|Attached and detached garages availableStainless steel* or black appliancesHardwood-style flooringSpacious walk-in closetsPrivate screened-in balconies or patios*in select units||Deluxe faux wood blindsIn-unit washer and dryerCeiling fans in living room and master|
The community features:
|Community clubhouse with leasing offices,|
Wi-Fi, coffee bar, and fireplaceResort-style swimming pool24-hour fitness facility with yoga and Pilates
|Pet play areaComplimentary car wash areaGreat shopping and dining minutes awaySmoke-free buildings available|
SOURCE ECI Group