CHICAGO—Steadfast Apartment REIT has just acquired three apartment communities in the Midwest in three separate transactions. The communities in suburban Indianapolis and suburban Chicago cost $80.8 million and have a total of 643 homes. Irvine, CA-based Steadfast has now invested over $430 million in twelve apartment communities in seven Midwestern and Southern states.

“Job growth is a major driver for apartment demand and the Midwest is humming with activity,” said Ella Neyland, president of Steadfast, in a prepared statement. She was not available for additional comment by press time. “We believe we are continuing our strategy of buying communities in markets that exhibit strong employment growth, limited new supply, and expanding populations.”

Two of the communities are located within the greater Indianapolis area. The REIT purchased Reveal on Cumberland in Fishers, just 16 miles northeast of downtown, for $29.5 million. The 220-unit development was built in 2014 on eight acres and features one-, two- and three-bedroom apartments and nine different floor plans. Apartments range from 663 to 1,433 square feet with average rents of $1,095. Reveal on Cumberland also includes amenities such as a full-service clubhouse, 24-hour fitness center, pet park, game room and a resort-style swimming pool with a hot tub and cabanas.