Clayton, NC – April 15, 2025 – Cushman & Wakefield announced today that the real estate services firm has arranged the sale of The Averly at Flowers, a 396-unit multifamily community located in Clayton, North Carolina. Cushman & Wakefield’s Alex McDermott, Hunter Bowling, Charlie Gravina, Rhodes Marley and Paul Marley represented the seller, Ardmore Residential, Inc., in the transaction. The property was acquired by ECI Group.
“We wanted to extend our appreciation to the Cushman & Wakefield team for our acquisition of The Averly at Flowers”, said Peter Miklius, Acquisitions Director of ECI Group. “This is our first acquisition within our new partnership with Almanac Realty Investors and marks ECI’s return to North Carolina. We are thrilled to accomplish this within Clayton, NC, a submarket within the Raleigh-Durham MSA, which has seen an abundance of population growth, employment drivers creating superior demographics, making it one of the more affluent and fastest growing pockets of the Carolinas.”
Built in 2023, The Averly at Flowers is a four-star garden apartment community featuring 11 buildings with a total gross building area of 492,000 square feet. The property offers a variety of high-class amenities, including resort-style swimming pools, grilling pavilions, high-tech business centers, elite fitness centers and stunning interiors. Each unit is equipped with modern conveniences such as air conditioning, granite countertops and walk-in closets. The community also provides residents with access to a clubhouse, pet play area and walking/biking trails.
“The Averly at Flowers is a meticulously constructed, newly built community boasting best-in-class amenities," said McDermott. "It is well-positioned 30 minutes from downtown Raleigh, located in the vibrant residential community of Flowers Plantation. The property benefited from an exceptionally managed strong lease-up process. The Averly at Flowers is a strategic addition to ECI Group's portfolio and planned growth in the Carolinas. We look forward to seeing the property continue to thrive under new ownership.”
The community offers excellent connectivity to the market's best employment, educational and entertainment destinations, including North Carolina State University, WakeMed and Crabtree Valley Mall. The property is nestled between NC-42 and I-85, providing easy access to major highways. The surrounding area features miles of walking trails, on-site shopping, dining and excellent schools, making it an ideal location for families and professionals alike.
Cushman & Wakefield’s Sunbelt Multifamily Advisory Group is a 90-person investment sales team covering 15 states with No. 1 multifamily market share in that region based on sales volume and transactions reported to CoStar. Per Cushman & Wakefield, in 2024, the group closed $5 billion in sales volume through 172 deals and 28,000 units. For more information about the Sunbelt Multifamily Advisory Group, visit https://multifamily.cushwake.com.