#United States #Lewisville #Avery Apartments #Ashcroft Capital #Virtual Real Estate

Ashcroft Capital's Recapitalization of The Avery

Introduction
Ashcroft Capital, a well-known multifamily investment firm, has announced the recapitalization of The Avery, a luxurious garden-style apartment community located in Lewisville, Texas. This move not only showcases Ashcroft's strategic partnerships but also positions the company for a robust year ahead in property acquisitions and market engagement.

Details of the Recapitalization
The recapitalization marks a significant transition where the previous owner, a joint venture between Ashcroft Capital and a private equity partner, has sold the property to a new venture that includes Ashcroft and Virtus Real Estate Capital. This transaction reflects Ashcroft's ongoing commitment to optimizing its real estate portfolio and partnering with quality organizations.

Features of The Avery
The Avery is comprised of 304 apartments, offering one-, two-, and three-bedroom homes with sizes ranging from 750 to 1,258 square feet. The property boasts a wide array of amenities designed to enhance residents' lifestyles, including:

• - A fully-equipped fitness center
• - A cyber café with complimentary WiFi
• - An outdoor kitchen area
• - A pet park
• - A resort-inspired swimming pool
• - 24-hour emergency maintenance services.

These features not only provide convenience but also aim to foster a community atmosphere among residents.

Market Insights and Future Plans
Following the successful recapitalization, Ashcroft Capital is gearing up for an active acquisition phase in 2025. Frank Roessler, the founder and CEO of Ashcroft, expressed confidence in the apartment sector, citing the continued demand for rental units due to persistent population growth in the Sun Belt region. Although recent years witnessed a slowdown in rent growth and occupancy rates due to increased apartment construction, Roessler believes the long-term fundamentals remain strong.

Josh Colter from Virtus Real Estate Capital has added that despite challenges some markets face, Dallas shows remarkable resilience with the highest absorption rates in the country and a robust economy. This optimism is reflected in their collective vision to enhance property value at The Avery, ensuring that residents enjoy a high quality of living.

Impact on the Community
The Avery's update underlines a broader trend in the multifamily sector, where companies like Ashcroft are focusing on not just acquiring properties but also enhancing the living experience for residents. With comprehensive on-site management provided by Birchstone Residential, Ashcroft aims to create a sustainable environment that prioritizes resident satisfaction and retention.

Conclusion
As Ashcroft Capital looks ahead, the firm is eyeing several off-market apartment communities for acquisition while also planning to sell two existing properties in early 2025. The organization hopes to secure between five to eight new apartment communities within the year. With strong partnerships and a commitment to quality, Ashcroft Capital is positioned to navigate the evolving real estate landscape effectively, focusing on long-term value creation for investors and residents alike.

This recapitalization is not just a transaction; it's a stepping stone toward ensuring that communities thrive, impacting lives positively in the long run.