The real estate firm ECI Group has teamed with ApexOne Investment Partners in a joint venture to form ApexOne-ECI Multifamily Fund VI LP, which will focus on the acquisition, redevelopment and managing of multifamily assets across the Sunbelt, Midwest, and Mountain West markets.
The new fund will seek total equity capitalization of $500 million. ECI and ApexOne will serve as the fund’s co-general partners and have committed to co-invest more than $100 million of the fund’s total equity capitalization.
ECI Group’s capital commitment comes in partnership with Almanac Realty Investors, a business unit of Neuberger Berman, which has committed up to $350 million to support ECI’s continued platform expansion, including its investment in the fund.
“Forming this strategic partnership with ApexOne, an established multifamily fund manager, provides ECI with an opportunity to flex its operational excellence and efficiencies in multifamily investments in targeted high-growth markets while strengthening our institutional investor access and platform,” said ECI CEOfficer and Chief Operating Officer Seth Greenberg.
“Partnering with ECI brings together a fully integrated operating platform with a proven ability to drive performance at the property level, alongside a shared strength in identifying and executing on investment opportunities,” said Ernest Johnson, partner and executive managing director of ApexOne. “Their innovative, AI-enabled approach to leasing, resident engagement, and asset management, combined with a long track record across market cycles and a meaningful capital commitment alongside investors, made them an ideal partner for this fund.”
Photo: Inscription West Palm Beach, owned by ECI Group
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