ECI Group Refinances Sun Belt Multifamily Portfolio with $625M Loan from Goldman Sachs

by John Nelson

ATLANTA — ECI Group, an Atlanta-based multifamily developer and investor, has obtained a $625 million loan for the refinancing of a 13-property multifamily portfolio in the Sun Belt. Goldman Sachs Bank USA provided the loan, and Jones Lang LaSalle Securities LLC served in an advisory role to ECI Group, which will use the loan to refinance the portfolio and fund renovations for six communities. Built between 1979 and 2021, the 3,478-unit portfolio comprises Class A and B properties in Florida, Georgia, Tennessee and Texas. The assets had an average occupancy of 96.6 percent at the time of the loan closing.

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