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, announced the disposition of a multifamily community, University Green Apartments, a 194-unit apartment community located in Houston, Texas
University Green Apartments was acquired in 2018 by Eastham Capital Fund V, LP, as a joint venture between Mosaic Residential and Eastham Capital. The investment was identified as a value-add opportunity in a growing market benefiting from strong regional employment drivers, proximity to major transportation corridors, and continued population growth across the greater Houston area. The sale price was not disclosed.
“University Green Apartments was an outstanding investment for Eastham, and we are pleased with the successful sale of this property,” said Matthew Rosenthal, founder and managing director of Eastham Capital. "The asset’s strong performance, spearheaded by a great operating partner in Mosaic, validates our value-add strategy in Texas.”
During the hold period, the team executed a comprehensive capital improvement and operational enhancement program designed to reposition the community within its competitive set. Interior unit renovations, exterior upgrades, and amenity enhancements were paired with improved property management and revenue management strategies. These efforts have driven meaningful increases in occupancy, resident quality, and overall asset performance.
University Green Apartments, located at 1620 Bay Area Blvd., includes a mix of one- and two-bedroom units ranging from 424 to 988 square feet. At the time of disposition, University Green Apartments was approximately 97% occupied, with in-place rents having increased from $739 at the time of acquisition to $1040. The community is within great proximity of the University of Houston, Clear Lake, HCA, and the NASA Space Center in Houston, Texas. The successful execution of the business plan resulted in significant value creation for investors while delivering upgraded housing options to residents in the Houston community.
Eastham Capital has recently launched its next fund – Eastham Capital Fund VII, LP – through which two properties have already been acquired. For more information on Eastham Capital's unique investment approach and property portfolio, visit www.easthamcapital.com.
Value-add investment in Richton Park marks Eastham’s third acquisition for its Fund VII, and the thirteen alongside 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 Park Towers Apartment Homes, a 270-unit community in Richton Park, Illinois, within Chicago’s coveted Cook County submarket.
South Florida-based Eastham Capital acquired the community for $30.4 million through its fund, Eastham Capital Fund VII, LP, with its trusted operating partner, Bender Companies. To date, Eastham and Bender have co-invested in thirteen projects, all of which are currently delivering above-proforma returns.
“We are thrilled to announce the third acquisition for Eastham Capital Fund VII as we continue expanding our footprint in the highly desirable Chicago Market,” said Matthew Rosenthal, founder and managing partner of Eastham Capital. “Benefiting from direct rail access to Downtown Chicago via the Richton Park Metra Station and a strong employment corridor, Park Towers offers a favorable investment opportunity for our fund.”
Currently at 94% occupancy, with average rents of $1531 per month, Park Towers represents a compelling value-add opportunity in one of the fastest-growing suburban Chicago markets. The renovation plan includes roughly over $2.2 million focused on property infrastructure and exterior upgrades.
Built in 1974 and located at 3905 Tower Dr., Park Towers Apartment Homes is a mid-rise, pet-friendly apartment community, each featuring a private balcony or patio, accessible from the living room and bedroom. The property offers spacious one and two-bedrooms, two-bathroom floor plans ranging from 770 to 910 square feet, with a fully equipped kitchen featuring oak cabinets and walk-in closets. The community amenities include a fitness center, business center, on-site laundry facilities, a putting green, outdoor games and a playground. Situated near the Metra station and in proximity to major expressways, I-57/US-30, residents can enjoy instant access to small casual eateries, popular hot spots, abundant recreation options including hiking, golfing, entertainment and shopping.
For more information on Eastham Capital's unique investment approach and property portfolio, visit www.easthamcapital.com.
Value-add investment in Glendale Heights marks Eastham’s second acquisition for its Fund VII, and the twelfth alongside 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 The Flats at Gladstone, a 168-unit garden-style community in Glendale Heights, Illinois, within Chicago’s desirable DuPage County submarket.
South Florida-based Eastham Capital acquired the community for $24.1 million through its fund, Eastham Capital Fund VII, LP, with its trusted operating partner, Bender Companies. To date, Eastham and Bender have co-invested in twelve projects, all of which are currently delivering above-proforma returns.
“We are excited to announce the second acquisition for Eastham Capital Fund VII as we expand our footprint in Chicago to Glendale Heights,” said Matthew Rosenthal, founder and managing partner of Eastham Capital. “Known for its top-rated schools, strong community, and easy access to nearby employment hubs, The Flats at Gladstone will be an excellent investment for our fund.”
Currently at 96% occupancy, with average rents of $1690 per month, The Flats at Gladstone represent a compelling value-add opportunity in one of the fastest-growing suburban Chicago markets. The renovation plan includes roughly over $2.5 million for exterior building improvements and interior unit upgrades, complemented by the construction of a new clubhouse featuring a fitness center, leasing office, and maintenance shop.
Built in 1977 and located at 148 Gladstone Dr., The Flats at Gladstone is a 31-building community comprised of six-unit buildings, each featuring private balconies or patios, dual-entry access, and well-lit interiors. The property offers spacious, high-demand two-bedroom layouts ranging from 846 to 987 square feet.
Residences feature large, functional floor plans with modernized interiors, such as updated cabinetry, hardwood flooring, and black appliances. The second and third floor units also include individual washer and dryer machines.
With a prime location at Army Trail Road and Bloomingdale Road, residents enjoy instant access to major retail corridors and premier connectivity to I-290, I-355, and I-88, linking them to employment hubs across the Chicago region.
For more information on Eastham Capital's unique investment approach and property portfolio, visit www.easthamcapital.com.
Value-add investment in Palatine marks Eastham’s final acquisition for its Fund VI, and
the fifth alongside operating partner Artisan Capital
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 Arrowhead Apartments, a 200-unit garden-style community in Palatine, a suburb of Chicago, Illinois.
South Florida-based Eastham Capital acquired the community for $31.5 million through its fund, Eastham Capital Fund VI, LP, with its trusted operating partner, Artisan Capital. To date, Eastham and Artisan have co-invested in five projects, all of which are currently delivering above-proforma returns.
“We are excited to once again partner with Artisan and expand our footprint in Chicago to Palatine, renowned for its excellent schools, thriving economy and community” said Matthew Rosenthal, founder and managing partner of Eastham Capital. Arrowhead Apartments marks the final acquisition for Eastham Capital Fund VI, LP.
Currently at 85% occupancy, with average rents of $1,776 per month, Arrowhead Apartments represents a compelling value-add opportunity in one of the fastest-growing suburban Chicago markets. The renovation plan includes roughly $1.9 million for amenity updates as well as interior and exterior building improvements. These improvements will build on significant upgrades completed by prior ownership.
Built in 1978 and located at 1950 N Cambridge Ct., Arrowhead Apartments offers a mix of spacious one-, two- and three-bedroom floor plans, ranging from 712 to 942 square feet.
The newly renovated apartments offer contemporary interiors with new stainless-steel appliances, designer cabinetry, quartz countertops, bathroom vanities, and modern light fixtures. Amenities include a new, expanded clubhouse, state-of-the-art fitness center, a swimming pool, playground, dog park, and a package room (Amazon Hub Locker).
Located in the amenity-rich Village of Palatine in the growing northwest suburbs, Arrowhead Apartments offers an excellent location, 30 miles from the Chicago Loop and 14 miles from O’Hare International Airport. The Palatine Metra Station, only minutes away, provides downtown commuters with a fast, easy way to get to work. Plus, quick access to Route 53 and Dundee Road makes traveling around the area simple and convenient.
For more information on Eastham Capital's unique investment approach and property portfolio, visit www.easthamcapital.com.
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, announced the disposition of two multifamily communities – Veranda Apartments, a 200-unit apartment community, and Stone Ridge Apartments, a 248-unit apartment community located in Texas City, part of the larger Houston metropolitan area.
Veranda Apartments and Stone Ridge Apartments were acquired in 2018 by Eastham Capital Fund V, LP, as a joint venture between Mosaic Residential and Eastham Capital. The investments were identified as value-add opportunities in a growing submarket benefiting from strong regional employment drivers, proximity to major transportation corridors, and continued population growth across the greater Houston area.
“Veranda Apartments and Stone Ridge Apartments were excellent investments for Eastham, and we are delighted with the profitable sales of these properties,” said Matthew Rosenthal, founder and managing director of Eastham Capital. "Both properties' strong performance, led by our great operating partner in Mosaic, upholds our value-add investment strategy in Texas.”
During the hold period, the team executed a comprehensive capital improvement and operational enhancement program designed to reposition both communities within their competitive sets. Interior unit renovations, exterior upgrades, and amenity enhancements were paired with improved property management and revenue management strategies. These efforts have driven meaningful increases in occupancy, resident quality, and overall asset performance.
At the time of disposition, Veranda Apartments was approximately 95% occupied, with in-place rents having increased $336 (36%) over our hold, and Stone Ridge Apartments was approximately 94% occupied, with in-place rents having increased $259 (34%) over our ownership. The successful execution of the business plan resulted in significant value creation for investors while delivering upgraded housing options to residents in the Texas City community.
Eastham Capital has recently launched its next fund – Eastham Capital Fund VII, LP – through which one property has already been acquired. For more information on Eastham Capital's unique investment approach and property portfolio, visit www.easthamcapital.com.
Value-add investment in Mt. Prospect marks Eastham’s first acquisition for its Fund VII, and
the eleventh alongside 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 The Element, a 509-unit garden-style community in Mount Prospect, a suburb of Chicago, Illinois.
South Florida-based Eastham Capital acquired the community for $75.25 million through its newest fund, Eastham Capital Fund VII, LP, with its trusted operating partner, Bender Companies. To date, Eastham and Bender have co-invested in ten projects, all of which are currently delivering above-proforma returns. “We are excited to announce the first acquisition for Eastham Capital Fund VII. The Element will be an excellent investment for our fund. We look forward to making subsequent acquisitions in 2026,” said Matthew Rosenthal, founder and managing partner of Eastham Capital.
Currently at 95% occupancy, with average rents of $1,590 per month, The Element represents a compelling value-add opportunity in one of the fastest-growing suburban Chicago markets. "With a supply-constrained submarket which has just 600 units under construction within a five-mile radius, The Element is perfectly positioned to capitalize on the area's robust economic fundamentals."
The renovation plan includes roughly $5 million to upgrade unit interiors, building systems and exterior areas. These improvements will build on significant upgrades completed by prior ownership.
Built in 1968 and situated on more than ten acres, The Element offers a mix of one-, two- and three-bedroom spacious floor plans with townhome-style layouts, ranging from 850 to 1,800 square feet. Units feature upgraded kitchens, vinyl plank flooring, walk-in closets and private patios or balconies. Amenities include a fitness center, swimming pool, yoga studio, business center, game room and laundry facilities.
Located just over seven miles northwest of O’Hare International Airport and less than 22 miles from downtown Chicago, the property is minutes from I-90, I-290, and the Mount Prospect Metra Station. The Element offers convenient access to top employers throughout the O’Hare/Rosemont and Schaumburg submarkets – two of the largest employment hubs in suburban Chicago. The property sits within Township High School District 214, one of the top-rated districts in Illinois. Mount Prospect continues to experience steady renter demand driven by top-rated schools, established neighborhoods and a diverse employer base.
For more information on Eastham Capital's unique investment approach and property portfolio, visit www.easthamcapital.com.
