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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 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.”