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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, announces the $23.2 million disposition of Central Park Apartments, a 220-unit apartment community, located in Park Forest, a south suburb of Chicago, Illinois.

The property was acquired for the portfolio of Eastham Capital Fund V, LP, in partnership with Bender Companies in September 2019. Central Park Apartments was the second collaboration between Eastham and Bender. To date, the partners have co-invested in 10 properties together.

“Central Park has been a very successful investment for Eastham Capital, demonstrating the ability to create value in the Chicago suburban market,” said Matthew Rosenthal, founder and managing director of Eastham Capital. “The property’s strong performance spearheaded by a great operating partner in Bender, upholds our value-add investment strategy, especially in the Chicago suburbs.”