CHATTANOOGA, TN – San Francisco-based real estate firm Hamilton Zanze (HZ) has bought the 190-unit 5 Points Northshore Apartments in Chattanooga, Tennessee. The Kirkland Company represented the seller on this transaction. This represents HZ’s eighth acquisition in Tennessee.
The property, built in 2019, is located just north of Downtown Chattanooga, which is situated at the bend in the Tennessee River at the Juncture of Tennessee, Georgia, and Alabama.
“5 Points Northshore presented a fantastic opportunity to buy a Class A asset in Chattanooga, Tennessee” said David Nelson, Hamilton Zanze’s chief transactions officer. “The property features a top-of-the-line amenity package, a prime location within walking distance to many attractions, and offers residents the quality of life provided by the city’s energetic core. As this is our second acquisition in Chattanooga, we’re very excited to continue to watch the region’s growth.”
The community is located at 328 Cherokee Blvd in the desirable North Chattanooga submarket, approximately 5-minute drive or 2.5 miles from Downtown Chattanooga. The 190 residential units average 826 square feet with 37 different floor plans. Community amenities include an outdoor lounge and kitchen, resort-style pool, pet spa and park and a clubroom with billiards tables and TVs. Unit amenities include gourmet kitchens, in-unit washers and dryers, private balconies and patios, walk-in closets, and tile bathrooms.
HZ’s capital improvements will include site improvements, building repairs, amenity enhancements, and mechanical, electrical, and plumbing updates. Management of the property has also been transitioned to HZ affiliate Mission Rock Residential, a Denver-based company.

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ORLANDO, FL – ECI Group announces its acquisition of Makara Orlando Apartments, a 228-unit, nine-building, Class A apartment community in rapidly growing East Orlando. The community was developed by RangeWater Real Estate and delivered in mid-2021.
“This exchange-driven acquisition demonstrates ECI’s strategy of recycling capital from older properties into newer properties and expanding our geographic footprint as we accomplish that,” said James Baugnon, President and CIO at ECI. “This is the third deal for us using this strategy in 2021. This repositioning of our portfolio has also accelerated our growth in Florida, reflecting our confidence in the underlying demand drivers in that state.” ECI recently hired a regional development partner for its Florida investments and currently owns five operating assets and recently broke ground on a new development, Parc Madison, in Tampa.
Makara Orlando Apartments is located on a unique infill site on University Drive close to an abundance of destination retail, restaurant and entertainment venues including Waterford Lakes Town Center, Baldwin Park and Downtown Orlando. The gated, secured-access community features top-of-the-market luxury amenities including a clubhouse, freestanding garages, resort-style pool, modern, 24-hour fitness club, resident lounge with kitchen and billiards and a large dog park. The community is located minutes from the University of Central Florida, the Central Florida Research Park, Siemens and Lockheed Martin. Makara was developed in 2020/2021 with the first units delivering in June 2021 and has averaged 40 leases per month since then.
Makara’s one-, two-, and three-bedroom units feature open-concept floor plans with gourmet kitchens, stainless steel appliances, granite countertops and islands, upgraded lighting, bright subway tile showers and in-unit washers and dryers.
ECI extends its appreciation to Newmark’s Central Florida team led by Senior Managing Director Scott Ramey, Associate Brad Downing and Associate Paul Grant for their representation of RangeWater Real Estate.

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TAMPA, FL – ECI Group and K.D. Keller Development have closed on a two-acre site in Tampa’s vibrant Channel District in Tampa, FL, with plans to start construction in January 2022 on Parc Madison, a 351-unit, eight-tale Class A apartment community with 6,571 square feet of ground floor retail. The project equity was funded through a joint venture of ECI, Tampa-based K.D. Keller Development, and Scottsdale, AZ-based Kandle Investments, with construction financing provided by Wells Fargo Bank, N.A. Construction is expected to be completed in the third quarter of 2023.
Parc Madison will be located at the east end of the downtown Tampa block bounded by E. Twiggs Street, E. Madison Street, and Channelside Drive, adjacent to the new City of Tampa Madison Street Park. Constructed using efficient tunnel form concrete technology, the building will have a parking deck, skyline views from upper floors, an expansive rooftop pool and gym. The 6,571 square feet of ground floor retail is targeted towards a restaurant and/or coffee shop user.
“The ECI team is excited to be underway with the Parc Madison, destined to be a signature property in downtown Tampa, featuring sleek, modern architecture and sunlit, spacious apartments,” said James Baugnon, President and CIO at ECI. “We are proud to continue to contribute to the rapid growth of the Channel District, bringing in more residents to delight in the new retailers, grocery stores, restaurants and gathering places.” In December, ECI announced the sale of the Channel Club, a 22-tale high rise apartment community developed by ECI Group and K.D. Keller Development on the same block as Parc Madison, for $136 million.
Chip Sykes and Drew Jennewein of Jones Lang LaSalle Capital Markets helped in the formation of the project joint venture.

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