Eastham Capital, a real estate private equity firm based in South Florida, has recently acquired Haven Hoffman Estates. This 550-unit residential apartment community is located in the Chicago suburb of Hoffman Estates and was purchased for $76 million in January. The property, which is situated at 725 W. Bode Circle, will be managed by Bender Companies who have co-invested with Eastham Capital on multiple projects.
The acquisition was made through Eastham Capital Fund VI LP and gives the firm a majority ownership interest in the deal. With current occupancy rates at 96%, plans are already underway to invest $6.5 million into renovations for interior units, exterior areas and amenities as well as rebranding efforts.
Founder and managing partner of Eastham Capital Matthew Rosenthal expressed excitement about expanding their Chicago portfolio with this latest acquisition alongside Bender Companies whom they have partnered with on nine previous deals including this one being their largest yet.
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