Class-A Community in the Dallas-Fort Worth Metroplex Features 360 Homes
Ashcroft Capital, a fully integrated multifamily investment firm, 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.”
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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.
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