Ashcroft Capital Acquires Birchstone Cedar Ridge in Dallas

Ashcroft Capital has completed the acquisition of Birchstone Cedar Ridge, a luxury garden-style community located in the Dallas-Fort Worth metroplex. This acquisition, announced on December 15, 2025, adds a significant property to Ashcroft’s growing portfolio, marking its 20th multifamily asset in the region. Birchstone Cedar Ridge, formerly known as Jefferson Cedar Ridge, comprises 360 apartment homes and was developed in 2024.

The acquisition was executed through a joint venture with Pearlmark Real Estate and Temerity Strategic Partners. This partnership represents the second collaboration between Ashcroft and Pearlmark in 2025, highlighting their mutual commitment to expanding their footprint in the multifamily housing sector.

Details of the Acquisition

Frank Roessler, founder and CEO of Ashcroft Capital, expressed enthusiasm about the new addition. “We are excited to expand our Birchstone brand with the acquisition of Cedar Ridge apartments,” he stated. Roessler emphasized that the property aligns with their investment strategy of targeting luxury communities at a discount to replacement costs. The firm aims to leverage its customer service capabilities to foster strong rent growth and tenant retention.

Located at 6165 Ridge Center Drive, Birchstone Cedar Ridge offers a variety of one-, two-, and three-bedroom homes, ranging from 660 to 1,541 square feet. The community boasts numerous amenities, including a resort-style pool, outdoor kitchen and grill areas, an enclosed dog park, and a 24-hour fitness center. Additional conveniences such as a business center, electric vehicle charging station, and emergency maintenance service contribute to the overall appeal of the property.

Future Prospects and Market Position

Scott Lebenhart, chief investment officer at Ashcroft, noted the strategic advantages of the location. “It has a wide array of onsite features that should serve to attract and retain residents,” he said. The community is situated in an area known for its shopping, award-winning schools, museums, and parks, which enhances its desirability.

Stephen Quazzo, CEO and co-founder of Pearlmark, praised the acquisition, calling it a “best-in-class asset” that promises a unique experience for residents in the submarket. He acknowledged Ashcroft and Birchstone Residential’s expertise in the Dallas-Fort Worth market, which is expected to drive the property’s success.

Beyond Texas, Ashcroft Capital operates in several other states, including Florida, Georgia, and North Carolina, and is actively exploring additional markets in the Sun Belt region. The firm emphasizes capital preservation while delivering strong returns to its investors, managing a portfolio valued at approximately $2.9 billion across over 14,500 units.

About the Companies Involved

Established in 2015, Ashcroft Capital focuses on multifamily investment strategies, specializing in value-add and core-plus properties. Their approach prioritizes enhancing living standards for residents while maximizing asset value.

Birchstone Residential, the property management arm of Ashcroft Capital, is dedicated to providing essential services, ensuring high resident satisfaction through a people-first culture. Meanwhile, Temerity Strategic Partners offers co-general partner capital to real estate ventures, leveraging extensive industry relationships to support effective market strategies.

Pearlmark, based in Chicago, targets core-plus to value-add real estate opportunities and has a long history of successful investment programs, having completed transactions representing over $14.7 billion in gross investment value.

As Ashcroft Capital continues to expand its portfolio, the acquisition of Birchstone Cedar Ridge exemplifies its strategy of investing in high-quality multifamily properties in key metropolitan areas.