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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.”