Ashcroft Capital Announces Acquisition of Birchstone Cedar Ridge

Class-A Community in the Dallas-Fort Worth Metroplex Features 360 Homes

NEW YORK, Dec. 15, 2025 /PRNewswire/ -- Ashcroft Capital, a fully integrated multifamily investment firm, today announced its acquisition of Birchstone Cedar Ridge, a luxury garden-style community in Dallas built in 2024. Ashcroft's affiliate property management arm, Birchstone Residential, is now providing services for the residents of the community. The acquisition was completed through a joint venture that includes Pearlmark Real Estate and Temerity Strategic Partners. This acquisition marks the second in 2025 between Ashcroft and Pearlmark.

The Class-A property (formerly Jefferson Cedar Ridge) features 360 apartment homes and becomes Ashcroft's 20th multifamily property in the Dallas-Fort Worth metroplex.

"We are excited to expand our Birchstone brand with the acquisition of Cedar Ridge apartments," said Frank Roessler, founder and CEO of Ashcroft. "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."

Located at 6165 Ridge Center Drive, Birchstone Cedar Ridge features one-, two- and three-bedroom homes ranging from 660 to 1,541 square feet. Community amenities include a resort-style pool with cabanas, outdoor kitchen and grill areas, enclosed dog park, 24-hour fitness center with cardio and strength stations, business center, EV-charging station, 24-hour emergency maintenance service and community clubhouse. The community also offers furnished apartments, flexible payment options and pet, housekeeping and delivery services.

Homes feature undermount kitchen sinks with gooseneck faucets, granite counters, white and gray shaker cabinets, modern pendant lighting, ceiling fans, plush carpeting, hardwood-style flooring and smart thermostats.

"Birchstone Cedar Ridge is an outstanding addition to our portfolio," said Scott Lebenhart, chief investment officer of Ashcroft. "It has a wide array of onsite features that should serve to attract and retain residents, and it's located in an area with great shopping, award-winning schools, museums and parks. With our strong presence in the Metroplex, Birchstone Cedar Ridge will also benefit from our economies of scale and operational efficiencies in the area."

"We are proud to continue our relationship with our valued joint venture partners through the acquisition of Birchstone Cedar Ridge," said Stephen Quazzo, CEO and co-founder of Pearlmark. "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."

In addition to Texas, Ashcroft owns communities throughout Florida, Georgia and North Carolina. The company is actively pursuing additional markets in the Sun Belt.

About Ashcroft Capital
Established in 2015, Ashcroft Capital is a fully integrated multifamily investment firm that has $2.9 billion of multifamily assets, totaling just over 14,500 units, across several fast-growing Sun Belt metropolitan areas. The firm prioritizes capital preservation while aiming to deliver robust, risk-adjusted cash-on-cash returns to its investors. Supported by high-net-worth individuals, family offices and institutional capital, Ashcroft Capital specializes in value-add and core-plus multifamily properties. The company's approach emphasizes optimizing the value of each asset, and the firm focuses on acquiring top-tier apartment communities in prime submarkets of large, expanding U.S. cities. Ashcroft is committed to enhancing the living standards of the residents in every community it manages.

About Birchstone Residential
Birchstone Residential serves as the internal property management arm of Ashcroft Capital, offering a full suite of essential services, including leasing, maintenance and construction management. Specifically designed to implement the value-add strategy for Ashcroft's properties, Birchstone focuses on maximizing financial returns while ensuring high levels of resident satisfaction. With a strong commitment to fostering a people-first culture, the company emphasizes employee growth through training, job enrichment and accelerated career development. Birchstone is dedicated to delivering exceptional service that not only attracts new residents but also enhances the quality of life of existing residents.

About Temerity Strategic Partners
Temerity Strategic Partners ("TSP"), headquartered in Chicago with offices in New York, is a real estate private equity firm focused on providing programmatic co-general partner (co-GP) capital to real estate operating, development, and asset management companies on behalf of its principals and a distinguished group of private and institutional investors. TSP provides growth capital, strategic resources, and access to TSP's extensive relationships to support rapidly growing, market leading real estate owners and operators executing development, value-add, and core-plus strategies throughout the United States. Founded by industry veterans Bruce Cohen and Jeff Citrin, TSP leverages its experience in building, capitalizing, and investing in preeminent real estate operating platforms to support the pursuit of their long-term objectives. For more information, please visit www.temeritystrategic.com.

About Pearlmark
Pearlmark is a Chicago-based investment firm that targets domestic core-plus to value-add real estate opportunities via commingled funds, separate accounts, and joint venture structures. Since 1996, the Pearlmark team has sponsored more than 15 real estate equity and debt investment programs and completed 607 real estate equity and debt transactions on behalf of investors, representing $6.3 billion in equity capital commitments, $14.7 billion in gross investment value, and 174 originated loans aggregating over $2.3 billion in commitments. Pearlmark is dedicated to creating value for its investors and offers a range of investment opportunities nationwide across various property types (primarily industrial and multifamily). For more information, please visit https://www.pearlmark.com.

Media Contact
Stephen Ursery
LinnellTaylor Marketing
[email protected]
303.682.3945

SOURCE Ashcroft Capital