Ashcroft Capital has entered North Carolina, acquiring The Apartments at Midtown 501, a 248-unit garden-style community in Chapel Hill, N.C.
Located at 545 Ashley Court, The Apartments at Midtown 501 is near U.S. Highway 15-501 between downtown Chapel Hill and Interstate 40, which provides residents with easy access to some of the market’s top employment centers. Research Triangle Park, the University of North Carolina at Chapel Hill, UNC Medical Center, Duke University and Duke University Hospital are short commutes from the property. In addition, the surrounding school district is ranked No. 1 in North Carolina by Niche.com.
The previous owner of the community oversaw an extensive renovation of the amenities and apartment homes in 2015, which will allow Ashcroft and Birchstone to focus on making operational improvements and performing light upgrades to the property. Within the apartment homes, Ashcroft and Birchstone will install upgraded lighting and plum
