ECI Group Acquires Verso Luxury Apartments in Davenport, FL

ATLANTA, May 18, 2022 /PRNewswire/ -- ECI Group (ECI) announces the acquisition of Verso Luxury Apartments, a 250-unit, new in 2020, "Big House" concept, multifamily asset in the booming Davenport submarket of Orlando, FL. Located at the heart of Central Florida's high-growth, I-4 corridor near master-planned communities, ChampionsGate and Reunion, Verso is a greatly differentiated apartment experience with rare walkability in a highly amenitized suburban setting.

"ECI is excited to add Verso to our growing apartment portfolio in Central/Southwest Florida where we have purchased four apartment communities totaling nearly 1,000 units for nearly $300 million in the last 12 months," said ECI Chief Acquisitions Officer, Scott Levitt. "We expect to be a long-term holder of this property, and, we believe its Davenport location will continue to enjoy strong population, residential and commercial growth for many years to come as it fully builds out."

Residents of Verso's low-density (13 units per acre), two-story, stone-accented buildings will appreciate features including attached garages for 44% of the units, 100% individual entries, and high-end interior finishes. One-, two-, and three-bedroom units ranging to 1,427 square feet provide spacious residences with a custom home feel. Verso is steps away from more than 150,000 square feet of retail destinations including a Publix-anchored shopping center and numerous new restaurants and service options. The nearby flourishing industrial corridor continues to attract blue chip companies and generate job opportunities for those living in the area.

Community features include:

• Expansive Clubhouse
• Pristine Resort-Style Swimming Pool with Sun Shelf and Private Cabanas
• Relaxing Spa
• Outdoor Kitchen and Grill Area
• Outdoor Fire Pit
• Game / Multi-Media Room
• Full Circuit Fitness Center
• Yoga & Fitness-On-Demand Studio
• Guest Suite Rental
• Parcel Lockers
• Secure, Gated Access Community
• Resident Coffee Bar

Individual units include:

• 9 & 10-foot Ceiling Heights
• Curved Archways
• Quartz Countertops
• Stainless Steel, Energy-Efficient Appliances
• Tile Backsplash
• Contemporary, Designer Cabinetry in Two Color Schemes
• Breakfast Nooks with Industrial Glass Pendant Lighting
• NEST Thermostat
• Wood-Style Plank Flooring (carpeted bedrooms)
• Walk-In, California Closets
• Crown Molding Throughout
• Electronic Keyless Entry
• USB Charging Ports
• Dual Vanities & Walk-In Showers*
• Full-Size Washer & Dryers
• Fenced-In Backyards*

*In Select Units

ECI extends its appreciation to Brett Moss and Tyler Swidler of Berkadia's Orlando office for their representation of the seller.

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 7,900 units either existing or under construction located throughout the Southeast, 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