Ashcroft Capital, a multifamily investment firm, and SFO Capital Partners, a real estate investment management firm, have purchased Elliot Gateway, a garden-style community in Marietta, Ga.

The community features 388 apartment homes and marks Ashcroft’s sixth community in metro Atlanta.

“We are honored to partner with such a respected institutional firm as SFO Capital Partners, and we look forward to expanding this relationship in the future,” said Frank Roessler, CEO of Ashcroft. “We are also excited to expand our presence in the Atlanta market. Atlanta is a market with exceedingly positive multifamily fundamentals that bode well for our value-add strategy.”

Birchstone Residential has assumed day-to-day management of Elliot Gateway.