MESQUITE, TX – Ashcroft Capital, a fully integrated multifamily investment firm, announced the acquisition of Anthem Town East (formerly Alexis at Town East), a garden-style community located near Town East Mall approximately 15 miles east of Downtown Dallas. Birchstone Residential, Ashcroft Capital’s in-house property management company, has assumed management of the community and Birchstone’s construction team will spearhead renovation efforts.
The community, which features 244 apartment homes, represents Ashcroft’s first acquisition in Mesquite and the 17th in the company’s rapidly growing Texas portfolio.
“Mesquite is one of our target markets in Dallas because it offers residents a high quality of life, fantastic schools and quick commutes to major employment centers,” said Frank Roessler, founder and CEO of Ashcroft. “Anthem Town East is already in fantastic shape, and we believe our in-house property management company will make it one of the most desirable communities in the area.”
Anthem Town East, which was built in 2002 and consists of 12 three-tale buildings, is situated at 645 N Town E Boulevard and spans approximately 14 acres with numerous water features. The community puts residents within close proximity of one of the metro area’s major retail destinations. Anchored by Town East Mall, the area includes several large shopping outlets and a sizable variety of national retailers. The community sits just north of Town East Boulevard and a small distance from Interstates 635 and 30, the gateways to the greater Dallas area.
Renovation efforts will start by addressing deferred maintenance projects, such as repainting the property and additional measures to improve the curb appeal. Amenity spaces and common areas will be updated as well, including improvements to the clubhouse, fitness center, pool areas and additional spaces. Anticipated upgrades within the apartment homes include the addition of quartz countertops with under-mount sinks, stainless steel appliances, faux wood flooring, new cabinet fronts, updated plumbing and lighting fixtures, tiled backsplashes, USB ports, fresh paint and two-inch blinds.
Anthem Town East offers one-, two- and three-bedroom homes with spacious layouts averaging nearly 1,000 square feet. Existing apartment features include nine-foot ceilings with decorative crown molding, six-panel doors, framed glass mirrors and additional high-end features. Select homes include wood plank-style flooring and sunrooms with fireplaces.
Existing common-area amenities at the controlled-access community include a resort-style pool with sundeck, gas barbecues, social lounge, coffee bar, 24-hour fitness center and a business center. Residents also have the option to lease a detached private garage or covered parking.
“Anthem Town East already possesses an brilliant location and aesthetic appeal, and we look forward to offering our trademark brand of customer service to help further cultivate the resident experience,” said David Deitz, president of Birchstone. “We’re excited to join the Mesquite market and offer a quintessential Birchstone experience.”

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BALTIMORE, MD – A joint venture between San Francisco-based real estate investment firm Hamilton Zanze and a subsidiary of Cantor Fitzgerald announced the sale of The Quarters at Towson Town Center in the desirable Towson/Hunt Valley submarket of Baltimore, Maryland. The firms bought the property in 2018 and the sale closed on November 10, 2021. The Newmark team of Christine Espenshade and Robert Garrish represented sellers at acquisition and disposition.
During their ownership, Hamilton Zanze completed numerous exterior improvements and landscaping improvements, and renovated 100 units with new countertops, appliances, and hardware to improve leasing efforts and increase rental rates.
“Since purchasing the property in August 2018 we implemented proactive asset management and completed value-add renovations, which kept occupancy above 94%, even throughout 2020, and ultimately positioned the property for a profitable exit for investors,” said Anthony Ly, director of dispositions at Hamilton Zanze.
“The profitable sale of The Quarters at Towson Center was a direct result of understanding the property’s location, situated in the heart of the growing Towson market, and capitalizing on increased demand for institutional-quality multifamily assets,” said Chris Milner, Head of Cantor Fitzgerald Investment Management.
The Quarters at Towson Town Center was built in 2009 and is located at 900 and 960 Southerly Road in Towson. The property comprises 430 one-, two-, and three-bedroom units averaging 1,111 square feet. The community has a resort-style pool and spa, two fitness centers, two club rooms, private courtyards with barbecues, business center, and garage parking.
The Quarters at Towson Town Center is in the Towson/Hunt Valley submarket of the Baltimore metro area. The community is in Central Townson near two highways providing access to local and regional areas of interest in and around Baltimore. The Towson Town Center, one of the largest indoor shopping malls in the state, is adjacent to the property. Baltimore is Maryland’s second-largest job center and the largest U.S. seaport in the Mid-Atlantic. The city is home to Johns Hopkins University and Johns Hopkins Hospital, two of the metro’s largest employers.

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MIAMI, FL – Starwood Real Estate Income Trust, a non-listed REIT managed by Starwood REIT Advisors, L.L.C., a subsidiary of Starwood Capital Group, announced the acquisition of a multifamily housing portfolio of 15,460 units located in 62 communities from Strata Equity Group, a privately held real estate investment and management company based in San Diego. Terms of the transaction were not told.
The bought portfolio is located in 27 markets across 10 states, primarily in the Southeast region of the United States, including Georgia, Tennessee, and North Carolina. The portfolio’s markets are experiencing substantial population, employment and income growth, projected to outpace the U.S. average by 2x over the next five years. These markets offer lower taxes and a cost of living below the national average, and continue to benefit from migratory trends toward the Sun Belt and other growth markets. The portfolio’s units offer affordability with high-quality amenities. Strata will remain in an asset management role for the bought portfolio.
James Kane, Head of Multifamily Asset Management for Starwood Capital, said, “We have known and respected the Strata team for many years and are pleased that this relationship led to a mutually beneficial transaction for both companies. We look forward to continuing to work with Strata to help realize the value of this portfolio.”
The Strata team responsible for the structuring and execution of the transaction was led by Scott Wittman and Andrew Gordon, Strata’s Chief Investment and Chief Operating Officers. Strata has sold in excess of $4 billion in multifamily assets this year through multiple transactions.
David Michan, Strata’s CEO, commented, “We are thrilled to complete this extraordinary transaction with Starwood on behalf of Strata and our investors. This further validates our strategy of acquiring quality affordable housing in growing markets. The Strata team has worked tirelessly to assemble and enhance this portfolio on top of the strong platform we have built. The assets performed well through the pandemic and we are excited the Strata team will remain involved and be a part of the continued success of these assets going forward.”
As of September 30, 2021, the SREIT portfolio had a total asset value of $12.6 billion across 246 properties. “We appreciate the opportunity to work directly with Strata on this significant transaction that is well suited to the stable yield profile of SREIT,” added Ethan Bing, Managing Director at Starwood Capital. “Portfolio recapitalizations are a key component of our investment strategy for SREIT and this transaction is another example of our ability to offer an attractive structure that meets the objectives of large owners seeking liquidity.”

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