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Eastham Capital Sells Milwaukee Apartments for $12.75M
Eastham Capital, a private equity real estate firm, along with its partner Chicago-based Bender Companies, a multifamily owner-operator, has completed the disposition of the Fairmount Meadows Apartments, located at 5010 N 91st Street, Milwaukee, Wisconsin, for $12.75 million.
Eastham Capital, through its Eastham Capital Fund V, LP, invested 90 percent equity into Fairmount Meadows, which they originally acquired with Bender Companies in early 2021. The property was almost 97 percent occupied at the time of disposition.
“Fairmount Meadows was an excellent investment for Eastham Capital, and we are delighted with the profitable sale of this property, especially in the current difficult multifamily market,” said Matt Rosenthal, president at Eastham Capital.
Fairmount Meadows, a 128-unit multifamily residential complex built in 1970, consists of one- to three-bedroom apartments. “Our partnership with Eastham Capital on the Fairmount Meadows property has been an exceptional experience, and together, we’ve greatly enhanced the property’s value,” said Kurt Bender, principal at Bender Companies.
