ECI Group (ECI) announces the sale of Houma Highlands apartments at 461 S. Hollywood Road in Houma, Louisiana to Oakwood Capital (Oakwood) for an undisclosed price. The 16-building, 378-unit community was built in phases, with Phase 1 completed in 2004 by another developer and then it was acquired by ECI and Phase II was developed and completed in 2012.
“ECI is proud of our execution at Houma Highlands and the positive contributions we have made in the Houma community over more than a decade,” said Scott Levitt, Chief Acquisitions Officer at ECI Group in a statement. “We provided a continuum of integrated services at Houma Highlands, from development and construction management to property and asset management, and our team positioned it into the successful apartment community it is today. We know Oakwood will be excellent stewards going forward.”
In October 2024, ECI received a $350 million infusion of equity from Almanac Realty Investors and continues to pursue acquisition and development opportunities in major markets in the Southeast and Texas.
Houma Highlands offers pet-friendly one-, two-, and three-bedroom homes with sophisticated finishes, including upgraded countertops, stainless steel appliances, and stylish flooring. Residents enjoy an array of high-end amenities such as a resort-style pool, a fully equipped fitness center, and beautifully maintained green spaces.
ECI extends its appreciation to Larry G. Schedler & Associates in New Orleans, LA, and Mike Kemether with Cushman & Wakefield in Atlanta, GA for their representation of the seller.
