ECI Group Completes Sale of Houma Highlands Apartments to Oakwood Capital
In a significant move within the real estate sector, ECI Group has announced the successful sale of the Houma Highlands apartments, located at 461 S. Hollywood Road, Houma, Louisiana, to Oakwood Capital. The deal, which involves an undisclosed sum, underscores ECI's strategic position in the multifamily housing market and marks an important milestone for the Houma community.
This expansive community of Houma Highlands consists of 16 buildings containing a total of 378 units. The development was initiated in phases, with the first phase completed in 2004 under a different developer. ECI took ownership in the subsequent years, completing Phase II in 2012, which further enhanced the community’s offerings. ECI Group has consistently expressed pride in their role at Houma Highlands and the contributions they’ve made to the local area over the past decade.
Scott Levitt, Chief Acquisitions Officer of ECI Group, commented on the sale, stating, "ECI is proud of our execution at Houma Highlands and the positive contributions we have made in the Houma community over more than a decade. We provided a continuum of integrated services at Houma Highlands, from development and construction management to property and asset management, and our team positioned it into the successful apartment community it is today. We know Oakwood will be excellent stewards going forward."
The Houma Highlands apartments present a variety of living options, including one-, two-, and three-bedroom units designed for pet owners, featuring modern upgrades such as sleek countertops, stainless steel appliances, and stylish flooring. Furthermore, residents benefit from an impressive array of amenities, which includes a resort-style swimming pool, a fully equipped fitness center, and well-maintained green spaces conducive to outdoor activities.
Speaking about the partnership with representation firms, ECI acknowledged the assistance received from Larry G. Schedler Associates from New Orleans and Mike Kemether from Cushman & Wakefield in Atlanta, who facilitated the sale.
As ECI Group continues to thrive with the recent receipt of $350 million in equity from Almanac Realty Investors, the firm is poised to tap into new acquisition and development opportunities within major markets in the Southeast and Texas. With a history spanning over 50 years, ECI has built a robust reputation as a leading privately-owned real estate organization in the United States, known for innovation and performance in the multifamily industry. Currently, the company manages a portfolio exceeding 7,000 units across the Southeast and Texas, demonstrating its strategic positioning to remain a significant player in the multihousing sector.
For those interested in learning more about ECI Group and its projects, detailed information is available through their official website: www.ecigroups.com.
This expansive community of Houma Highlands consists of 16 buildings containing a total of 378 units. The development was initiated in phases, with the first phase completed in 2004 under a different developer. ECI took ownership in the subsequent years, completing Phase II in 2012, which further enhanced the community’s offerings. ECI Group has consistently expressed pride in their role at Houma Highlands and the contributions they’ve made to the local area over the past decade.
Scott Levitt, Chief Acquisitions Officer of ECI Group, commented on the sale, stating, "ECI is proud of our execution at Houma Highlands and the positive contributions we have made in the Houma community over more than a decade. We provided a continuum of integrated services at Houma Highlands, from development and construction management to property and asset management, and our team positioned it into the successful apartment community it is today. We know Oakwood will be excellent stewards going forward."
The Houma Highlands apartments present a variety of living options, including one-, two-, and three-bedroom units designed for pet owners, featuring modern upgrades such as sleek countertops, stainless steel appliances, and stylish flooring. Furthermore, residents benefit from an impressive array of amenities, which includes a resort-style swimming pool, a fully equipped fitness center, and well-maintained green spaces conducive to outdoor activities.
Speaking about the partnership with representation firms, ECI acknowledged the assistance received from Larry G. Schedler Associates from New Orleans and Mike Kemether from Cushman & Wakefield in Atlanta, who facilitated the sale.
As ECI Group continues to thrive with the recent receipt of $350 million in equity from Almanac Realty Investors, the firm is poised to tap into new acquisition and development opportunities within major markets in the Southeast and Texas. With a history spanning over 50 years, ECI has built a robust reputation as a leading privately-owned real estate organization in the United States, known for innovation and performance in the multifamily industry. Currently, the company manages a portfolio exceeding 7,000 units across the Southeast and Texas, demonstrating its strategic positioning to remain a significant player in the multihousing sector.
For those interested in learning more about ECI Group and its projects, detailed information is available through their official website: www.ecigroups.com.
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