Eastham Capital Announces $10M Disposition of Illinois Multifamily Asset
Eastham Capital, a private equity real estate firm and a sponsor of multifamily private real estate offerings, announced the $10 million sale of Ridgeland Station. The 84-unit apartment community, located in Chicago Ridge, Ill., was acquired for the portfolio of Eastham Capital Fund V, LP in partnership with Bender Companies in February 2019.
“Ridgeland Station has been a successful investment for Eastham Capital, demonstrating our ability to create value in the Chicago suburban market,” said Matthew Rosenthal, founder and managing director of Eastham Capital. “The property’s strong performance, with 41.4% revenue growth during our ownership period, validates our value-add investment strategy.”
Ridgeland Station was the first collaboration between South Florida-based Eastham and Bender. To date, the partners have co-invested in nine projects with a 10th in the pipeline.
“Our partnership with Eastham Capital at Ridgeland Station exemplifies the power of combining local market expertise with institutional investment capabilities,” said Kurt Bender, principal at Bender Companies. “The property’s consistent performance and high occupancy levels reflect both the strength of the Chicago Ridge submarket and the effectiveness of our hands-on management approach.”
Under Bender’s management and stewardship, the property maintained 95% occupancy at the time of disposition. According to Eastham Capital, its operational performance also showed consistent improvement, with average rents increasing 9.7% year over year. The community consists of a mix of one-bedroom, one-bathroom units at 650 square feet and two-bedroom, one-bathroom units at 890 square feet.
In February 2025, Eastham Capital announced the acquisition of Haven Hoffman Estates, a 550-unit residential apartment community in the Chicago suburb of Hoffman Estates. The community was purchased for $75.8 million through its current fund, Eastham Capital Fund VI, LP.
Founded in 2007, Eastham Capital is a private equity real estate firm that partners with local real estate owners and managers with operational expertise in the management, repositioning, and disposition of distressed real estate assets. To date, the firm has transacted on more than $5 billion in multifamily properties in collaboration with its local operating partners whose regions span the continental United States.
Click here to visit the AltsWire directory page.
