ECI Group Acquires 260-Unit Longitude 81 Apartments in Estero, FL

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Jun 22, 2023, 07:44 ET

ATLANTA, June 22, 2023 /PRNewswire/ -- 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.

ECI Group (ECI) announced 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 available
Stainless steel* or black appliances
Hardwood-style flooring
Spacious walk-in closets
Private screened-in balconies or patios

*in select units

Deluxe faux wood blinds
In-unit washer and dryer
Ceiling fans in living room and master
bedroom
Granite countertops*

The community features:

Community clubhouse with leasing offices,
Wi-Fi, coffee bar, and fireplace
Resort-style swimming pool
24-hour fitness facility with yoga and Pilates
area

Pet play area
Complimentary car wash area
Great shopping and dining minutes away
Smoke-free buildings available

About ECI Group
For more than 50 years, ECI Group has been one of the most highly regarded, privately owned real estate organizations in the United States. The firm is fully integrated, with development, construction, investment, and property management groups that have garnered national recognition for innovation and performance in the multifamily industry. With a portfolio of more than 7,500 units located throughout the Southeast and Texas, ECI is strategically positioned to continue to be a leader in the multifamily industry. For more information, visit www.ecigroups.com.

Media Contact:
Karen Widmayer
KW Communications, LLC
[email protected]
301.661.1448

SOURCE ECI Group