London-based firm forms U.S. JV, makes first purchase

Ashcroft Capital, a New York-based, fully integrated multifamily investment firm, and SFO Capital Partners, a London-based global real estate investment management firm, in their joint venture, have acquired Elliot Gateway, formerly Discovery Gateway, a garden-style community located in Marietta, Ga., one of metro Atlanta’s thriving suburbs.

The transaction marks the first joint venture between the two companies.

The community features 388 apartment homes and marks Ashcroft’s sixth community in metro Atlanta, a market the company entered more than a year ago, and SFO Capital Partners’ 19th acquisition in the U.S. housing sector. Birchstone Residential, Ashcroft Capital’s in-house property management company, has assumed day-to-day management of Elliot Gateway.

“We are also excited to expand our presence in the Atlanta market. Atlanta is a market with exceedingly positive multifamily fundamentals that bode well for our value-add strategy,” said Frank