Eli Ungur

Eli Ungar co-founded Antheus Capital in 2002 alongside David Gefsky. He graduated *magna cum laude* from Brown University in 1990 with a Bachelor of Arts in Religious Studies. From 1990 to 2002, before launching his own firm, he served as director of acquisitions, finance, and property management for a private real estate investment firm, building the operating expertise that underpins Antheus's strategy.

Antheus Capital is a private real estate company focused on the acquisition, development, and redevelopment of apartment properties in select supply-constrained submarkets across the United States, with a specialty in the historic renovation of apartment housing. Today the portfolio comprises roughly 7,000 units plus approximately 400,000 square feet of commercial space. Ungar is the founder and president of both Antheus and its property-management affiliate, Mac Properties (MAC Property Management), one of the principal landlords and managers in Chicago's Hyde Park neighborhood, with additional holdings in Kansas City and St. Louis.

Beyond real estate, Ungar is active in civic and nonprofit leadership. He has served as chairman of the board of the Jewish Home Family (JHF), a nursing-home and assisted-living nonprofit in New Jersey, and is a past president of the Solomon Schechter Day School of Bergen County. He is based in the New Jersey area, where Antheus maintains its headquarters in Englewood.

• Asset class: Apartment/multifamily real estate — "the acquisition, development and redevelopment of apartment properties in select supply-constrained submarkets located throughout the United States" (firm's own description).
• Strategy: Buy stabilized or repositionable urban assets in markets with constrained new supply; renovate/reposition, then operate long-term through the in-house Mac Properties management platform.
• Specialty: Historic renovation of apartment housing — adding value through redevelopment rather than purely opportunistic flips.
• Geography: Deep concentration in Chicago's Hyde Park/South Side, plus Kansas City and St. Louis; a long-term neighborhood-scale ownership approach rather than scattered one-off bets.
• Deal sourcing: Repeat relationships with established developers (e.g., multiple acquisitions from Draper & Kramer) and financing via institutional lenders such as CBRE Capital Markets.