ROSWELL, Georgia., June 24, 2021 / PRNewswire / – Ashcroft Capital, a fully integrated multi-family investment company, today announced the acquisition of Elliot Roswell (formerly River Crossing at Roswell), a community of garden-style apartments in the Atlanta suburb of Roswell. Birchstone Residential, Ashcroft Capital’s in-house property management company, took over the management of the community.
The 312-unit property, which was purchased through Ashcroft Capital $ 150 million Value-added funds, becomes the company’s second apartment community in the metro Atlanta (he purchased the 412 unit Halston Riverside in Lawrenceville in April). Since its founding, Ashcroft Capital has acquired over 11,000 units in Dallas-Fort Worth, Orlando, Florida, Tampa, Florida, and Jacksonville, Florida., and is now pursuing acquisition opportunities in the Atlanta, Charlotte, North Carolina, Raleigh-Durham, North Carolina, and Phoenix metropolitan areas.
âWe are happy to plant roots in one of the that of Atlanta better suburbs, âsaid Frank roessler, Founder and CEO of Ashcroft Capital. “With its abundant green spaces and the proximity to several of the metro’s flourishing employment centers, Roswell is a highly sought after location for tenants. And with our planned improvements and our experienced property management team, Elliot Roswell will be in a better position to meet this growing demand and deliver a top-notch living experience. We are very excited about the future of Elliot Roswell and his performance going forward. “
The construction of a dog park and the improvement of the swimming pool to make it more suitable for children are among the planned improvements to the common areas. Renovations in the unit will include the installation of imitation granite laminate countertops, designer sinks, stainless steel appliances, faux wood flooring, new cabinet fronts, upgraded plumbing. up to date, contemporary light fixtures, USB ports and tile backsplash. In addition, the houses will be repainted, while washer-dryer sets and private yards will be added to some houses.
Located at 1450 Raintree Way, off GA-400, Elliot Roswell offers residents convenient access to the Perimeter Center, one of that of Atlanta the largest employment centers, and Alpharetta, the main technological center of the metro. The community is also located near highly rated schools, including Centennial High School. Plus, with over 800 acres of green space, an award-winning park system, and its location along the Chattahoochee River, Roswell was named one of the best suburbs to live in America by Niche.com.
“Our goal is ambitious but simple: we will make Elliot Roswell the best living option in his submarket,” said David Deitz, president of Birchstone. âTogether, the property’s unbeatable location and our renovation platform, along with our ‘People-First’ service, will prove to be a powerful combination that will allow us to raise the bar with the experience of living at Elliot. Roswell. ”
Elliot Roswell offers one, two, three and four bedroom apartments, including 54 townhouse layouts. The units vary in size from 900 to 1,925 square feet. The larger floor plans provide ample space for families with children.
Unit amenities currently include carpet and vinyl flooring, central heating and air conditioning, dishwashers, private balconies / patios / terraces, washer and dryer connections and a pantry. Some houses also have breakfast bars, additional storage space and walk-in closets.
Community amenities include a clubhouse and business center, playground, on-site laundry facilities, state-of-the-art fitness center and swimming pool. Residents also have access to panoramic lake views and a barbecue area with picnic tables.
About Ashcroft Capital
Founded in 2015, Ashcroft Capital acquired more than $ 1.2 billion of assets and 11,000 units. The company is focused on preserving capital while striving to return strong, risk-adjusted liquidity to investors. Ashcroft is capitalized with high net worth, family office and institutional capital. Within the real estate industry, Ashcroft specializes in value-added real estate and demonstrates expertise in extracting maximum value from every asset it acquires. Rather than trying to play on the timing of the cycle, the company strives to acquire excellent apartment communities in well-located submarkets of large and growing US metropolises.
About Birchstone Residential
Residential Birch is a culture-based property management company that oversees the day-to-day operations of the apartment communities owned by Ashcroft Capital. At Birchstone, the mission is to strive for excellence in all its forms and to live this every day through authenticity and transparency. Birchstone hires the best talent, then takes a step back and lets them shine. Their empowered and passionate team members translate into first-class customer service – and that translates into residents who love where they live.
Linnell Taylor Marketing
SOURCE Ashcroft Capital