Ashcroft Capital Bolsters Dallas Portfolio with Birchstone Cedar Ridge Acquisition
Ashcroft Capital, a fully integrated multifamily investment firm, has once again demonstrated its strategic prowess in the real estate market with the recent acquisition of Birchstone Cedar Ridge in Dallas, Texas. The 2024 built luxury garden-style community has joined Ashcroft’s substantial portfolio, becoming the company’s 20th multifamily property in the Dallas-Fort Worth metroplex.
This transaction was facilitated through a collaborative joint venture that includes seasoned partners Pearlmark Real Estate and Temerity Strategic Partners. The synergy between Ashcroft and Pearlmark has been reinforced as this acquisition signifies the second successful deal in 2025 between the two entities.
Birchstone Cedar Ridge, previously known as Jefferson Cedar Ridge, houses 360 apartment homes that reflect Ashcroft’s commitment to high-quality, institutional-grade investment choices. The array of amenities, including a resort-style pool, an all-encompassing fitness center, and multi-faceted community spaces, underscores the brand’s value proposition, which marries luxury with convenience.
Frank Roessler, founder and CEO of Ashcroft, conveys the company’s strategic vision saying, “We are excited to expand our Birchstone brand with the acquisition of Cedar Ridge apartments. Through our ongoing partnership with Pearlmark and Temerity, we continue to acquire high-quality, institutional-grade apartment communities, and this property fits well within our investment strategy. We are targeting luxury communities in our metros at a strong discount to replacement cost. Properties like Cedar Ridge will allow us to showcase our customer service, which supports strong rent growth and retention.”
Residents of Birchstone Cedar Ridge can expect meticulously designed homes that amalgamate style with functionality, boasting features like granite counters, modern pendant lighting, and smart thermostats. The surrounding locale is ripe with appealing attractions ranging from shopping venues to museums and parks, adding an extra layer of allure for prospective and current tenants.
Scott Lebenhart, chief investment officer of Ashcroft, echoes this enthusiasm, highlighting both the rich suite of onsite offerings that increase the community’s magnetism and the operational benefits derived from Ashcroft’s established metroplex presence.
Echoing the sentiment, Stephen Quazzo, CEO and co-founder of Pearlmark, articulates the joint venture’s conviction in the project, “We are proud to continue our relationship with our valued joint venture partners through the acquisition of Birchstone Cedar Ridge. This is truly a best-in-class asset that offers a unique resident experience in this submarket. With the experience and expertise that Ashcroft and Birchstone Residential have in the Dallas-Fort Worth market and their dedication to premium resident service, we believe this property will perform extremely well.”
With this acquisition, Ashcroft further entrenches its influence in the booming Sun Belt region where the company has a growing footprint across Texas, Florida, Georgia, and North Carolina. The firm’s strategy of identifying and investing in top-tier multifamily properties exhibits a keen understanding of the current market dynamics and a clear path towards fostering community while pursuing sustained growth and profitability.