As spring takes hold, apartment property sales are sprouting along with the greenery.
Apartment prices ticked up year over year in February for the first time since 2022, per a recent report that data firm MSCI Real Assets shared with Multifamily Dive. However, commercial real estate deals across property types haven’t stabilized yet this year, indicating a possible continued gap between buyer and seller expectations that has lingered for a couple of years.
Still, major deals, partially driven by REITs selling off apartment properties, are expected to close and drive more activity as the year proceeds. For example, Aimco just sold seven of its properties in the Chicago area as it continues to liquidate.
Read on for more details about four recent multifamily acquisitions.
Park Towers Apartment Homes in Chicago area
Buyer: Eastham Capital, Bender Companies joint venture
Seller: Withheld
Units: 270
Location: Richton Park, Illinois
Price: $30.4 million
Park Towers Apartment Homes is a mid-rise, pet-friendly apartment community that features a private balcony or patio for each unit, according to a press release from Eastham Capital shared with Multifamily Dive. Built in 1974 with nearby access to a Metra station and major expressways, the property’s renovation plans include $2.2 million focused on property infrastructure and exterior upgrades.
“Currently at 94% occupancy, with average rents of $1531 per month, Park Towers represents a compelling value-add opportunity in one of the fastest-growing suburban Chicago markets,” according to the release.
Eastham purchased the property through its fund, Eastham Capital Fund VII.
7-property portfolio in Chicago area
Buyer: Respark, LaTerra
Seller: Aimco
Units: 1,495 combined
Location: Various
Price: $455 million
Aimco took a major step toward liquidation with the sale of seven of its properties in the Chicago metro area, Costar reported on March 31. The REIT’s board voted in November 2025 to liquidate the company, including its 2,524 housing units.
The portfolio’s properties were completed between 1972 and 2019 and feature similar amenities, including fitness centers, swimming pools, parking areas and playgrounds. They are:
- Elm Creek, a 400-unit community in Elmhurst, Illinois.
- Eldridge Townhomes, a 58-townhome community in Elmhurst.
- Yorktown, a 292-unit, 15-story community in Lombard, Illinois.
- 2200 Grace, a 72-unit community in Lombard.
- Hyde Park Tower, a 155-unit, 18-story community in Chicago.
- Willow Bend, a 328-unit community in Rolling Meadows, Illinois.
- Evanston Place, a 190-unit community in Evanston, Illinois.
Roughly $20 million of the invested capital will be used for renovations, according to CoStar.
Yugo Louisville Nine student property near the University of Louisville
Buyer: Vesper
Seller: Withheld
Units: 385 beds
Location: Louisville, Kentucky
Price: Withheld
The Nine — as the six-story property is now called — offers two-, three, four- and five-bedroom configurations with bed-to-bath parity, Student Housing Business reported March 31. Developed in 2016, its shared amenities include a 24-hour fitness center, a study center, a yoga and spin room, a coffee bar, a game room, a resort-style pool, a sun deck, a fire pit, a dog park as well as group study lounges.
CBRE represented the seller in the transaction.
The Tower on Piedmont in Atlanta’s Buckhead neighborhood
Buyer: TruAmerica Multifamily
Seller: Withheld
Units: 155
Location: Atlanta
Price: Withheld
The 20-story high-rise features condo-quality construction and premium interior finishes in one of Atlanta’s most affluent and walkable rental corridors, according to a March 30 press release shared with Multifamily Dive. Completed in 2009, the property has 155 expansive studio, one-, two-, three-bedroom and penthouse residences.
“The Buckhead submarket continues to be one of Atlanta’s most sought-after rental markets with its strong employment drivers and lifestyle destination,” said Wes LaBar, head of acquisitions, in the release. “Our long-term relationship with the seller, demonstrated certainty of execution, and experience in the Atlanta market were key to securing this opportunity.”
TruAmerica plans to elevate unit interiors and enhance the rooftop pool, lobby and fitness center to meet demand for high-quality amenities, per the release. CBRE facilitated the acquisition.
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