Ashcroft Capital, a fully integrated multifamily investment firm, has acquired Elliot Windsprint and Halston Park Central. The two communities bring 576 apartment homes to Ashcroft’s portfolio. Following the deal, Birchstone Residential, Ashcroft’s in-house property management will operate the communities.
Both of the acquired communities include 288 one, two and three bedroom homes with various layouts. 30% of the units have undergone renovation which leaves room to add additional value to the investments. Overall, the deal marks the end of an active year for Ashcroft as the firm acquired 11 properties containing 3,513 units and totaling over $700 million in value.
“We grew very strategically in our target markets in 2021, and the acquisitions of Elliot Windsprint and Halston Park Central capped an outstanding year,” said Frank Roessler, founder and CEO of Ashcroft. “In 2022, we will continue to be highly selective and disciplined in our investment approach.”
“We are excited to assume management of both of these communities, which are fantastic additions and will fit in seamlessly with our emerging portfolio,” said David Deitz, president of Birchstone. “Each community has a unique offering in its respective market, and we look forward to providing a best-in-class, quintessential Birchstone experience at each property.”