Deal Highlight: ECI Group Acquires Waterline Estero

Deal Highlight: ECI Group Acquires Waterline Estero

redIQ would like to congratulate the team at ECI Group for finalizing the acquisition of Waterline Estero in Estero, Florida. The 260-unit asset was purchased from Passco Companies in a deal brokered by JBM® Institutional Multifamily Advisors.  The community has amenities including a pool, fitness center, grilling stations, and a dog park. ECI Group owns two other assets in the area.  

Estero Village, in Lee County, Florida, is growing rapidly. The population has increased by about 30% in recent years. Two large developments in the Village Center area will add about 5,000 units to the rental stock. Several other developments are planned or confirmed for Estero. Employers in the area include Hertz, hospital systems, and the Florida Gulf Coast University. Lee County is home to MLB training facilities, water parks, and beaches.  

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