Announced
Completed
Financials
Tags
Completed
real estate
Majority
United States
apartments
Single Bidder
Domestic
Private Equity
Acquisition
Friendly
Real Estate
Real Estate Holding and Development
Private
Synopsis
Ashcroft Capital, a private equity firm completed the acquisition of the apartments at Midtown 501. Financial terms were not disclosed. "The current capital markets present challenges to our acquisition team. As such, we remain highly selective. For this reason, we are focusing on excellent submarkets such as Chapel Hill, which is a high-growth market where we want to invest. We look forward to expanding our portfolio there. Over time, we plan to build a sizable footprint in the Raleigh-Durham-Chapel Hill area. And though we're not in a rush, we saw Midtown 501 as too good of an opportunity to look away from," Frank Roessler, Ashcroft Founder and CEO.
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