May 01, 2025
RALEIGH, NC - ECI Group announced the acquisition of Ardmore at Flowers Apartments, an 11-building, 396-unit apartment development at 380 Topwater Drive in Raleigh (Clayton), NC, in the 3,000-acre Flowers Plantation master-planned community.
The community will be rebranded as The Averly at Flowers. The price was not disclosed in the "off-market" transaction. The investment marks ECI's first acquisition with Almanac Realty Investors, a division of Neuberger-Berman, since the announcement in October 2024 of Almanac's $350 million infusion of capital to fuel ECI's expansion.
"ECI is excited to...