ECI Group announces sale of The Columns at Paxton Lane in Georgia

ECI Group (ECI) announced the sale of The Columns at Paxton Lane apartments at 4305 Paxton Lane in Southeast Gwinnett County, Georgia to InterCapital Group for an undisclosed price. The 296-unit community was developed by ECI in 1996 and has been owned and managed by the company throughout that time. Cushman & Wakefield represented the seller.

“The Columns at Paxton Lane, which ECI developed, owned and managed for more than 25 years, demonstrates the successful execution of a business plan in which our entire team participated," said Seth Greenberg, CEO at ECI Group. “ECI intends to re-invest the proceeds from The Columns at Paxton Lane into a newer multifamily property. Once the re-investment plan is completed, realizing the investment of an older property into a more current property, that deal will mark the sixth such exchange transaction completed by ECI in the past approximately two years.”

The Columns at Paxton Lane is in the submarkets of suburban