Foxrun and North Pointe mark Eastham’s fourth and fifth acquisitions with local operating partner, Merion Realty Partners

Clifton Park, NY – Eastham Capital, a private equity real estate firm dedicated to providing superior, risk-adjusted returns to investors through the transformation of undervalued multifamily real estate, has partnered with Merion Realty Partners, a Pennsylvania-based multifamily owner-operator in the acquisition of Foxrun and North Pointe apartment communities in Clifton Park, a submarket of the state’s capital, Albany, NY.

South Florida-based Eastham Capital has obtained a majority ownership interest in the deal through its current fund, Eastham Capital Fund VI, LP.  Merion Realty, which has co-invested and partnered with Eastham Capital on multiple projects, will oversee the day-to-day management. The total acquisition price for both communities was not disclosed.

“We are thrilled to expand our footprint in upstate New York with the acquisitions of Foxrun and North Pointe in Clifton Park, one of the most sought-after suburbs in Albany,” said Matthew Rosenthal, founder and managing director of Eastham Capital. "One of the most attractive aspects of this submarket is the limited multifamily supply pipeline.  There have not been any new apartment communities delivered in Clifton Park in over a decade – and only one 70-unit property under construction within a five-mile radius of both properties."

The acquisition plan includes renovations designed to elevate the properties, such as upgrades to the roofs, parking lots, mechanical systems, landscaping, siding, amenity upgrades, building interiors, and general site improvements.

Located at 100 Foxwood Dr., Foxrun has a total of 468 units offering a mix of six studios, 235 one-bedroom and 227 two-bedroom apartments, ranging from 320 square feet to 1000 square feet. Foxrun is in a more rural setting with a picturesque lake at the entrance and forests surrounding the property.  North Pointe, situated at 1688 Route 9, 7 N Pointe, has a total of 198 units offering 90 one-bedroom and 108 two-bedroom apartments, ranging from 650 square feet to 850 square feet. North Pointe is walkable to shops and quietly nestled behind many prominent retailers, including Trader Joe’s, Target, Home Depot, ALDI, Lowe’s, Kohl’s, Michaels and Petco.

Foxrun includes 26 two and three-story residential buildings across 41 acres, and North Pointe includes nine three-story residential buildings across 12 acres. Both properties have ample amenity packages, each with a clubhouse, resident lounge, pool with sundeck, tennis court, basketball court, fitness center, grilling areas and outdoor fire pit.  Both properties are located within a close distance to Interstate 87, offering easy access to Downtown Albany and the greater Capital Region. Prominent employers in this region include Albany Medical Health System, St. Peter’s Health Partners, Regeneron Pharmaceuticals, General Electric, Global Foundries and Rensselaer Polytechnic Institute, to name a few.

For more information on Eastham Capital's unique investment approach and property portfolio, visit www.easthamcapital.com.

Fund will invest in multifamily properties across the continental United States

Boca Raton, Florida – Eastham Capital, a private equity real estate firm dedicated to providing superior, risk-adjusted returns to investors through the transformation of undervalued multifamily real estate, has launched its seventh multifamily investment fund, Eastham Capital Fund VII, LP. 

Since 2007, Eastham Capital has transacted on more than $5 billion in multifamily real estate across the United States. “Our 18-year track record spans six private funds that continue to gain Eastham award winning recognition,” said Matthew Rosenthal, founder and managing director of Eastham Capital. In June of 2024, Preqin awarded Eastham Capital “Top Performing Real Estate Fund Manager in America.”

Building upon the success of Eastham Capital’s six prior Funds, this fund will also target income-producing, value-add (C+ to A-) properties in A&B locations throughout the United States.  Eastham Capital Fund VII, LP is targeting to raise $500-750 million in equity commitments.

Eastham Capital believes that the climate for multifamily investment hasn’t been this good since 2010.  As the Federal Reserve raised the target rate a record 525 basis points from 0.00% to 5.25%, significant rate pressure began negatively affecting multifamily investors.  Over $500 billion of multifamily loans are set to mature between 2025 to 2027, of which, over $100 billion are variable rate and will not be able to be refinanced without a significant cash infusion.

Due to these upcoming loan maturities, distressed owners are beginning to initiate property sales at reduced prices to mitigate the risk of foreclosure.  This seller-based distress has created an ideal environment to purchase properties at discounted pricing and will continue to do so for the next couple of years.  We are seeing a notable increase in distressed acquisition opportunities and Eastham Capital Fund VII is being launched in order to take advantage of this situation.

If you are interested to learn more, please contact us at عنوان البريد الإلكتروني هذا محمي من روبوتات السبام. يجب عليك تفعيل الجافاسكربت لرؤيته. and visit our website at www.easthamcapital.com.

The Colonial marks Eastham’s first acquisition in Nebraska and its tenth partnership with local operating partner Bender Companies

Omaha, NE – Eastham Capital, a private equity real estate firm dedicated to providing superior, risk-adjusted returns to investors through the transformation of undervalued multifamily real estate, has announced the acquisition of The Colonial, a 258-unit residential apartment community in Omaha, Nebraska. 

South Florida-based Eastham Capital has obtained a majority ownership interest in the deal through its current fund, Eastham Capital Fund VI, LP. Bender Companies, who has co-invested and partnered with Eastham Capital on multiple projects, will oversee the day-to-day management. The property was brokered by Northmarq brokers Parker Stewart and Alex Malzone.

The apartment community is currently 95% occupied with average rents of just over $961/month. The acquisition includes a renovation budget of $1.9 million, which will include interior unit renovations and exterior upgrades, including roof replacements, balcony repairs, and parking lot enhancements.

“We are thrilled to be making our first acquisition in Nebraska with The Colonial and our tenth acquisition with Bender Companies, who has consistently outperformed in our JVs,” said Matthew Rosenthal, founder and managing partner of Eastham Capital.  “Although we believe that Omaha has been overlooked, its job diversity and lower-than average unemployment rate makes it market poised for substantial growth.”

Omaha’s strong economic growth has earned national recognition, with Forbes naming it the #1 Best City to Move to in 2024 and Multi-Housing News ranking it the #1 Emerging Market.

Omaha is ranked highly as there are numerous strong employers such as Offutt Air Force Base, which is notably home to the U.S. Strategic Command, Nebraska Medicine, CHI Health, and Methodist Health System and several Fortune 500 and Fortune 1000 companies.

Built in 1967, The Colonial offers spacious floor plans averaging 902 square feet and a range of onsite amenities, including an outdoor swimming pool with a sundeck, a community room, in-building laundry facilities, and storage lockers. The property features a mix of studio, one-, two-, and three-bedroom layouts.

Located at 3022 1/2 N 97th St., the property sits along Highway 64, which provides easy access to downtown and is a little over a half mile from I-680, which connects the property to the greater Omaha area.  Based on Yardi Matrix data, Omaha is one of the most affordable multifamily markets nationally.

For more information on Eastham Capital's unique investment approach and property portfolio, visit www.easthamcapital.com. 

Pinnacle Pointe Apartments was acquired in a joint-venture between Stratford Management and Eastham Capital Fund V in 2019

Crestview, Fla. -- Eastham Capital, a private equity real estate firm dedicated to providing superior, risk-adjusted returns to investors through the transformation of undervalued multifamily real estate, announces the $21.75 million disposition of Pinnacle Pointe Apartments, a 150-unit apartment community, located in Crestview, Florida. The property was acquired for the portfolio of Eastham Capital Fund V, LP in partnership with Stratford Management in April 2019. 

Pinnacle Pointe was the 12th collaboration between Eastham and Stratford. To date, the partners have co-invested in 19 properties together.

"Pinnacle Pointe was a terrific investment for Eastham Capital, proving our capability to create value in the Florida Panhandle," said Matthew Rosenthal, founder and managing director of Eastham Capital. "The property's strong performance, with 29.9% revenue growth during our ownership period, upholds our value-add investment strategy."

“We value our relationship with Eastham Capital and look forward to continuing investing in value-add multifamily real estate together in the future,” said Andrew Gordon, founder and President of Stratford Management. 

Eastham Capital acquired 75% ownership in the property in April of 2019, with Stratford and its affiliates owning the remaining 25%.  As the property manager, Stratford implemented a thorough repositioning strategy that substantially improved the property's appearance and profitability.  During the approximately six-year hold period, Eastham and Stratford completed substantial exterior and interior unit renovations, decreased unit vacancies, and increased average monthly rental revenue. The property has maintained excellent occupancy levels, continuously achieving up to 97% occupancy during their time of ownership. 

Pinnacle Pointe Apartments, located at 1000 Patriot Lane, was built in 2010 and includes a mix of one-, two-, and three-bedroom units ranging from 829 to 1280 square feet. It also has a resort-style pool with sundeck, a state-of-the-art fitness center, a dog park, a playground, and walking and biking trails nearby.

The apartment community in Hoffman Estates marks Eastham Capital’s ninth partnership with local operating partner Bender Companies

Eastham Capital, a private equity real estate firm dedicated to providing superior, risk-adjusted returns to investors through the transformation of undervalued multifamily real estate, has announced the acquisition of Haven Hoffman Estates, a 550-unit residential apartment community in the Chicago suburb of Hoffman Estates.  The community will be renamed Hoffman Hills Apartments as part of the property upgrade program.

South Florida-based Eastham Capital has obtained a majority ownership interest in the deal through its current fund, Eastham Capital Fund VI, LP.  Bender Companies, who has co-invested and partnered with Eastham Capital on multiple projects, will oversee the day-to-day management.

The apartment community is currently 96% occupied with average rents of just over $1,349/month. The acquisition includes a renovation budget of $6.5 million, which will include interior unit, exterior, and amenity upgrades, along with the aforementioned rebranding of the property.

“We are excited to expand our Chicago portfolio with Hoffman Hills Apartments.  This deal is our ninth, and largest, acquisition with Bender Companies.  Bender consistently outperforms its projections, and we are thrilled to partner with them once again,” said Matthew Rosenthal, founder and managing partner of Eastham Capital.

Built in 1970, the multifamily community features 33 renovated and classic studios, 319 one-bed and 198 two-bed apartments with floor plans averaging 746 square feet spread across eleven three-story buildings. On-site amenities include an outdoor swimming pool with a sundeck, a clubhouse, a fitness center, private work-from-home suites, and an outdoor dining area with a grilling station.

Located at 725 W Bode Cir., the property borders Schaumburg and is roughly 30 miles northwest of downtown Chicago and less than 15 miles northwest of Chicago O’Hare International Airport. It is in the heart of Chicagoland’s Golden Corridor, a 25-mile strip along I-90 that boasts more than a quarter million jobs. The property features garden-style apartments in a suburban location with top-rated school districts and convenient access to major suburban and downtown employers.

For more information on Eastham Capital's unique investment approach and property portfolio, visit www.easthamcapital.com.

Value-add investment marks firm's return to Minnesota market amid favorable buying conditions 

  Eastham Capital, a private equity real estate firm dedicated to providing superior, risk-adjusted returns to investors through the transformation of undervalued multifamily real estate, has announced the acquisition of a majority ownership interest in Equinox, a 266-unit residential apartment community in St. Anthony, Minnesota, just north of Minneapolis. 

South Florida-based Eastham Capital has invested in the deal through its current fund, Eastham Capital Fund VI, LP along with operating partner Artisan Capital Group.  Eastham has partnered with Artisan on three previous successful projects which are currently delivering above-proforma returns. The acquisition price was not disclosed. 

Currently at 94.4% occupancy with average rents of $1,400 per month, Equinox represents a compelling value-add opportunity in one of the Twin Cities' fastest-growing submarkets.  

The acquisition plan includes more than $4 million in renovations, designed to elevate unit interiors with modern finishes including premium cabinets, countertops, stainless steel appliances, designer vanities, contemporary hardware, upgraded lighting fixtures, and refined flooring selections. 

"The shifting market dynamics have created an exceptional opportunity to acquire this institutional-quality asset in St. Anthony, where population growth has surged by 23.6% since 2010 – more than double the rate of Minneapolis," said Matthew Rosenthal, founder and managing director of Eastham Capital. "With no new apartment communities under construction within three miles and 17 Fortune 500 headquarters nearby, Equinox is perfectly positioned to capitalize on the area's robust economic fundamentals." 

Built in 1974, Equinox features 151 one-bedroom and 115 two-bedroom apartments spread across nine three-story buildings. The property distinguishes itself with resort-style amenities including a dog park, walking trail, private balconies, playground, 266 rentable garage spaces, indoor and outdoor pools, grilling stations, laundry facilities, fitness center and a clubhouse complete with a fireplace lounge, catering kitchen and coffee bar. 

Located at 2808 Silver Lane NE, the property sits less than 7 miles north of downtown Minneapolis and adjacent to a vibrant retail plaza. The site offers immediate access to Silverwood Park's 1.6 miles of trails and 70-acre lake, while drawing from an affluent demographic base with average household incomes of $81,000 within a three-mile radius. The surrounding neighborhood has seen recent home sales approaching $900,000, underscoring the area's desirability. 

For more information on Eastham Capital's unique investment approach and property portfolio, visit www.easthamcapital.com.