Ashcroft Forges Multifamily Partnership with Goldman, Blackstone Funds
New York City-based multifamily investment firm Ashcroft Capital has closed on a strategic partnership with institutional investors including investment funds advised by Goldman Sachs Asset Management and Blackstone Strategic Partners. It will provide liquidity to existing investors across the Ashcroft portfolio in addition to funding future acquisitions.
The partnership expects to invest in value-add multifamily properties throughout the Sun Belt markets. Ashcroft currently anticipates that the partnership will acquire real estate assets with an aggregate cost of $800 million.
“This partnership will enable us to continue to expand at a rapid-yet-measured pace, as we’ll carefully select assets that fit within our investment parameters and possess a tremendous potential upside in our key markets,” said Frank Roessler, founder and CEO of Ashcroft.
Ashcroft currently owns communities throughout Texas, Georgia and Florida, and is seeking to expand into the Carolinas, Arizona, Colorado, Tennessee and Nevada.
Pictured: Ashcroft Capital’s Halston Park Central in Orlando.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).