Ashcroft Capital Announces Acquisition of Halston Waterleigh
Orlando-Area Community Marks Company's 11th Property Within Florida
WINTER GARDEN, Fla., Sept. 10, 2024 /PRNewswire/ -- Ashcroft Capital, a fully integrated multifamily investment firm, today announced the acquisition of Halston Waterleigh, a luxury garden-style community in metropolitan Orlando. Birchstone Residential, Ashcroft Capital's in-house property management and construction management company, is now providing services for the residents of the community, which was built in 2021.
Halston Waterleigh (formerly Braxton Waterleigh) features 354 apartment homes and marks Ashcroft's first multifamily property in Winter Garden and its fifth in metro Orlando. The acquisition, which represents Ashcroft's 11th community overall within Florida, expands the company's national portfolio to more than 14,000 homes.
"The window to acquire attractive assets such as Halston Waterleigh at a significant discount to replacement cost is closing, so we are fortunate to add a property with such high construction quality to our portfolio at a great basis," said Frank Roessler, founder and CEO of Ashcroft, "We've always been bullish on the greater Orlando market, and Winter Garden continues to be the city's fastest-growing suburb, so we look forward to joining the market and providing a top-of-market experience with this highly desirable community."
Situated at 10091 Tuller Loop, Halston Waterleigh represents Ashcroft's 13th community within its Halston brand. The community features one-, two- and three-bedroom homes ranging from 769 to 1,484 square feet. Community amenities include a heated saltwater pool with cabanas, expansive fitness center, resident clubhouse, outdoor kitchen and grill area, onsite pet wash and pet park, sand volleyball court, playground, EV charging stations and digital package lockers. In-home features include stainless steel appliances, wood-style flooring, granite countertops and pendant lighting.
Halston Waterleigh is located in the 22,000-acre Horizon West, one of the fastest-growing master-planned communities in the country.
"We are thrilled to acquire such a high-quality asset located in this unique and growing submarket of Orlando," said Scott Lebenhart, chief investment officer of Ashcroft Capital. "Being in the Horizon West master-planned community within Winter Garden, residents of Halston Waterleigh have access to top-rated schools, nearby retail and enticing amenities. In a challenging environment for acquisitions, this property is the quintessential buying opportunity that Ashcroft is seeking."
Halston Waterleigh is positioned moments west of Florida State Route 429 and less than four miles northwest of Walt Disney World. The community sits 13 miles south of Winter Garden's historic downtown area, which is on the southern edge of popular Lake Apopka, the state's fourth-largest lake. Additionally, the community boasts prime connectivity to the popular entertainment and employment destinations within Orlando and beyond.
"Halston Waterleigh possesses a resort-style vibe and offers all the comforts of the modern living experience," said JoAnn Blaylock, president of Birchstone Residential. "While the community has already become a popular option in its few years on the market, we're eager to take the next step and provide unmatched service levels that will further amplify the best-in-class experience. Our wonderful team is eager to make it happen."
In addition to Florida, Ashcroft owns communities throughout Texas, 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 owns and manages a portfolio of 14,000 units, valued at $2.7 billion, 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 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.
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SOURCE Ashcroft Capital
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