Multifamily investor Ashcroft Capital acquired yet another Atlanta-area apartment development with the recent purchase of Paces Crossing in Norcross, which it renamed Halston Paces Crossing.
The property is located at 4300 Jimmy Carter Blvd. in Norcross. Courtesy of Google Maps.
The New York investor has been active in the Atlanta area recently. Halston Paces is the 11th multifamily property Ashcroft has acquired in the market and its third Norcross asset. In October, Ashcroft announced the purchase of four communities in McDonough, Kennesaw and Dallas, and in April, it announced the acquisition of Elliott Gwinnett Place in Norcross.
Completed in 2001, Halston Paces is a garden-style community with a mix of 260 one-, two- and three-bedroom floorplans averaging 1,140 square feet. Approximately 75% of the residences have been renovated, while the others remain in original condition.
Apartments offer walk-in closets, high-speed Internet access, washer-dryer hookups, air conditioning and ice makers. Community amenities include a pool, cyber café and fitness center. Ashcroft plans to conduct a variety of unit and community upgrades.
Ashcroft’s in-house property management and construction affiliate, Birchstone Residential, will manage the community.
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