Ashcroft Capital Hires Traci Wilhelm to Oversee Asset Management
Real Estate Veteran Joins as Company Seeks Continued Growth
NEW YORK, Sept. 9, 2021 /PRNewswire/ -- Ashcroft Capital, a fully integrated multifamily investment firm, today announced the addition of Traci Wilhelm as director of asset management.
Wilhelm joins Ashcroft from RXR Realty, where she served as senior vice president of multifamily operations and asset management, managing a $2.7 billion portfolio of properties in the Northeast. At Ashcroft, she will oversee all of the asset management functions across the company's entire portfolio, implementing tools and systems to optimize operational performance and drive value appreciation. Her expertise includes an in-depth understanding of the new technologies being introduced to the multifamily industry. During her time at RXR Realty, she both led a digital lab team's creation of a resident-facing mobile application and acted as a consultant to property technology investment committees as they determined the reasonability of investments.
"We are very excited for Traci to join us at Ashcroft Capital," said Frank Roessler, founder and chief executive officer of Ashcroft Capital. "Her experience and skillsets are a perfect complement to the growth trajectory that our firm is endeavoring on. As we continue to institutionalize each department of the firm, it is critical that they are led by premier industry talent like Traci."
Before her time with RXR Realty, Wilhelm was director of multifamily asset management at CBRE Global Investors, where she managed a $1.2 billion portfolio of Class A and value-add assets across the country, including 3,700 multifamily units and 76,000 square feet of retail space. Earlier in her career, she served as director of asset management at JPI and as asset manager at Gables Residential. Wilhelm also practiced real estate transaction law for three years in Denver.
"I have admired Ashcroft's impressive track record in the multifamily space, and I could not be more excited about the opportunity to become part of its leadership team," Wilhelm said. "Ashcroft has a proven history of creating value through the rebranding and repositioning of the communities it acquires, bringing a better quality of life to their existing and new residents. I am looking forward to working with the tremendous team here at Ashcroft to continue and even accelerate the successes seen thus far."
Wilhelm has a Bachelor of Arts from University of Colorado Boulder, a Juris Doctorate from Washington and Lee School of Law and a Master of Science in Real Estate Finance and Construction Management from the University of Denver.
Since its inception, Ashcroft Capital has acquired more than 11,700 units. It currently has $1.4 billion of assets under management and owns more than 8,300 apartment homes. Until this year, the company's portfolio consisted of apartment communities in Jacksonville, Fla., Dallas-Fort Worth, Orlando, Fla., and Tampa, Fla. Ashcroft entered the metro Atlanta market this year and is also seeking acquisition opportunities in the Charlotte, N.C., Raleigh-Durham, N.C., and Phoenix metros.
Birchstone Residential, Ashcroft Capital's in-house property management company, manages all of Ashcroft's owned multifamily communities. Birchstone was created to provide best-in-class service that attracts new residents, enriches the lifestyles of current residents and drives the operational performance of the Ashcroft portfolio, leading to targeted rates of return. Birchstone promotes a culture of authenticity, transparency and empowered associates.
About Ashcroft Capital
Founded in 2015, Ashcroft Capital has acquired over $1.4 billion of assets and more than 11,700 units. The firm focuses on capital preservation while striving to return strong, risk-adjusted cash-on-cash to investors. Ashcroft is capitalized with high net worth, family office and institutional capital. Within the real estate industry, Ashcroft specializes in value-add real estate and exhibits an expertise in extracting maximum value from every asset it acquires. Rather than attempting to play market timing, the firm strives to acquire excellent apartment communities within well-located submarkets of large and growing U.S. metroplexes.
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SOURCE Ashcroft Capital
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