ECI Group, Almanac JV makes Raleigh-area acquisition, 396-unit Ardmore at Flowers Apartments in Clayton

4/15/2025

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MHN

• Subcategory: MF: Market Rate

• Tag: JV-Partnership | Sale

• Additional Filters-Subcategory: MF: Garden

• Additional Filters-Tags: Sale: Investment, Sale: Single Property

• Company: ECI Group, Almanac Realty Investors

ECI Group acquired Ardmore at Flowers Apartments, a 3,000-acre, 11-building, 396-unit community located in Clayton N.C. The transaction included ECI and Almanac Realty Investors, a division of Neuberger-Berman. The trade signifies the first acquisition since Almanac provided $350 million of capital to ECI to grow its multifamily portfolio.