Updated Aug 13, 2026
ECI Group And Almanac Realty Investors Acquire 396 Unit Multifamily Asset In Clayton For $92,000,000
380 Topwater Drive
$92,000,000
Units
396
Asset Type
MultiFamily
Closing
May 7, 2025
About this deal
AI
The property asset involved in this transaction is a multi-family residence located at 380 Topwater Drive, Clayton, NC, consisting of 396 units. The transaction was finalized at a price of $92,000,000.00.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $92,000,000.00
- Address: 380 Topwater Drive
- Market: Clayton, NC
- Units: 396
- Buyer: ECI Group, Almanac Realty Investors
- Seller: Ardmore Residential Inc.
Key individuals and companies involved in the transaction include ECI Group and Almanac Realty Investors as the buyers, and Ardmore Residential Inc. as the seller. This deal reflects notable activity in the multi-family market sector.
Players
Clayton MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93