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Ashcroft Capital Acquires Four Apartment Communities Around Atlanta
Ashcroft Capital has acquired four apartment communities totaling 1,080 homes in the Atlanta, GA metropolitan area. Birchstone Residential, Ashcroft Capital’s in-house property management company, has assumed management of the communities.
- Halston McDonough (formerly Carrington Green) in McDonough
- Halston South Point (formerly Villas at Southpoint) in McDonough
- Halston Shiloh Valley (formerly Shiloh Valley Overlook) in Kennesaw
- Halston Harris Bridge (formerly Harris Bridge Overlook) in Dallas
“In spite of capital market fluctuations, we remain bullish on multifamily based on the current and projected fundamentals within our Sun Belt metros,” said Frank Roessler, founder and CEO of Ashcroft. “Additionally, this portfolio had a very strong history of institutional ownership, and the previous regime handed them off to us with minimal deferred maintenance.”
“All four of these assets are highly desirable given the quality and characteristics of the properties,” said David Deitz, president of Birchstone. “They will fit seamlessly into our portfolio, and we believe our in-home renovations and modernization of property features will elevate each community in the pecking order of their respective submarkets.”
With the new acquisitions, Ashcroft now has 10 communities in metropolitan Atlanta.Photo: Halston South Point
- ◦Sale/Acquisition
