Image courtesy Randolph assessors

A large Randolph apartment complex has been acquired by a Chicago multifamily investor that specializes in middle-income housing acquisitions.

Watertown Venture XIII Holdings paid $130.25 million for the 503-unit Rosemont Randolph complex which contains 22 buildings, most completed in the early 1980s. The complex lists one-bedroom units starting at $1,803 per month.

Waterton’s $920 million Venture XIII fund specializes in urban and suburban middle-income housing acquisitions.

The sellers, an affiliate of Blackstone Real Estate, acquired the property in 2015 for $84.8 million.

Demand for suburban apartments has outpaced downtown properties during the pandemic in Greater Boston. A nationwide survey released in October by the National Multifamily Housing Council found that garden-style apartments had the highest desirability rating among renters, while high-rise buildings had the lowest.