Matt Rosenthal And Kurt Bender Acquire 168-Unit Multifamily Community In Glendale Heights For $24.1M

The asset involved in the transaction is a 168-unit garden-style community located at 148 Gladstone Drive in Glendale Heights. The property was sold for $24,100,000, resulting in a price per unit of $143,452. The multifamily property is currently 96% occupied and will undergo renovations exceeding $2.5 million, which will include unit upgrades, exterior improvements, and the addition of a new clubhouse featuring a fitness center and leasing office.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $24,100,000
• Units: 168
• Price Per Unit: $143,452
• Address: 148 Gladstone Drive
• Market: Glendale Heights

The buyers of the property are Matt Rosenthal from Eastham Capital and Kurt Bender from Bender Companies. Eastham Capital, in collaboration with its operating partner Bender Companies, acquired the property through Eastham Capital Fund VII, LP.