ECI Group Acquires Waterline Estero Multifamily From Passco Longitude DST For $78M

The Longitude 81 Apartments in Estero, now known as Waterline Estero, have been sold to ECI Group for a total of $78 million. The multifamily property comprises 260 units and spans across 17.95 acres. The transaction took place at 11221 Everblades Parkway in Estero, a prominent market in the area.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $78,000,000
• Address: 11221 Everblades Parkway, Estero
• Market: Estero
• Acreage: 17.95

ECI Group, represented by Seth Greenberg, acquired the Waterline Estero from Passco Longitude DST. The seller, Passco Longitude DST, previously purchased the property for $54.9 million in 2017, according to Lee County property records. This transaction marks a significant investment in the Estero market and showcases the confidence and growth potential in the multifamily asset class.