INDIANAPOLIS, Feb. 23, 2023 /PRNewswire/ -- Real estate private equity firm Gray Capital has closed on their acquisition of Echo Park Apartments, a 154-unit luxury multifamily apartment community located in Bloomington, IN. Acquisitions in the past year total over $155 million and are part of Gray Capital's $775+m in assets under management. Gray Capital's business plan includes a core-plus strategy to improve onsite management and significantly reduce expenses through efficiencies with other Bloomington multifamily assets. Gray Capital's property management company, Gray Residential, is now managing Echo Park as well as nearby apartment property Forest Ridge.