Avanath Capital Management, LLC has acquired two affordable multifamily properties totaling 668 units in the Chicago metro through an institutional fund, Avanath Affordable Housing III, for a combined total of $72.2 million. The properties include the 582-unit Hinsdale Lake Terrace in Willowbrook, Illinois and the 86-unit Drexel Court in Chicago. Both are mid-1900s-era affordable housing properties in economically thriving submarkets.