Birchstone Residential, a culture-based property management company focused on creating a great place for residents to call home and for associates to grow their careers, today announced the addition of veteran multifamily executive JoAnn Blaylock as president. The venerable Blaylock joins Birchstone, which serves as the in-house property arm of Ashcroft Capital, to guide the growing company with her comprehensive experience, expertise and dynamic leadership style.
Blaylock has an extensive multifamily resume and most recently served as president of Quarterra Living, the property management arm of Lennar Corporation’s multifamily division. Blaylock helped launch the property management division in 2014 and was responsible for the strategic direction and operation of Quarterra’s nationwide portfolio. Quarterra is one of the nation’s most active developers, builders and managers of multifamily housing. Blaylock was named to GlobeSt.com’s Best Bosses list in 2020, in which she was recognized for creating a culture focused on people and performance.
“It’s our continual mission to make Birchstone a best-in-class property management company focused on customer service and resident satisfaction,” said Frank Roessler, CEO and founder of Ashcroft Capital and Birchstone Residential. “JoAnn’s depth of experience will allow her to build upon this great organization and position us for growth as markets recover and our unit count climbs north of 20,000 and beyond. We’re thrilled to welcome her as president of our team of 400-plus associates, and we’re confident that her industry acumen and robust leadership skills will translate to satisfied residents, high-performing associates and a world-class culture for our organization.”
Birchstone Residential has a portfolio of 13,780 apartment homes in the Sun Belt region, including Texas, Florida, Georgia and North Carolina. As president, Blaylock will be responsible for complete oversight of Birchstone’s existing properties and will implement leading-edge management practices at communities added to Birchstone’s portfolio as a result of Ashcroft’s robust acquisition efforts.
“What makes Birchstone exciting is leadership’s commitment to taking excellent care of both residents and associates, and creating an environment in which we all thrive,” Blaylock said. “ I am thrilled to join the Birchstone family and look forward to helping the organization continue to grow and emerge as a leader in multifamily property management.”
In her role at Quarterra, Blaylock built and scaled all functions of the management platform to create outstanding resident experiences and drive value. She previously served as senior vice president of Grand Campus Living. She also spent time as a senior managing director for Greystar after beginning her career at JPI Management Services, where she eventually served as a divisional president.
Ashcroft Capital, a fully integrated multifamily investment firm, today announced the acquisition of Elliot Cocoplum, a garden-style community located midway between Boca Raton and Fort Lauderdale. Birchstone Residential, Ashcroft Capital’s in-house property management company and construction affiliate, has assumed management of the community and will oversee its upcoming improvements. The acquisition marks Ashcroft’s entry into the South Florida market.
Elliot Cocoplum (formerly Advenir at Cocoplum), which features 360 apartment homes and townhomes, marks Ashcroft’s 10th apartment community within Florida. The community was acquired with equity from Ashcroft and affiliates in a partnership with Peaceable Street Capital.
“The Fort Lauderdale metro is one of the most popular destinations for relocation in the nation, as residents continue to migrate from several pockets of the U.S.,” said Frank Roessler, founder and CEO of Ashcroft. “The metro has experienced a population growth of 13% since 2010, which bodes well for the long-term health of the regional apartment market. While new construction in the area has focused on high-density product, we believe that considerable demand still exists for low-density, garden-style products such as Elliot Cocoplum. We’re confident the quiet, suburban environment—along with our upgrades and our commitment to improving the quality of our residents’ lives—will make the community a top-of-market option.”
Originally built in 1986 and situated at 4142 Cocoplum Circle, Elliot Cocoplum offers one-, two- and three-bedroom homes ranging as large as 1,495 square feet, with townhomes accounting for nearly 50% of the units. Existing amenities include two swimming pools, a resident clubhouse and business center, fitness center, outdoor kitchen and a dog park.
Ashcroft’s renovation efforts will include a comprehensive update and modernization of the amenity spaces, improved curb appeal, updated landscaping and signage, and the implementation of electric vehicle charging stations. In-home improvements will include the additions of stainless-steel appliances, tile backsplashes, vinyl-plank flooring, upgraded lighting and plumbing fixtures, a smart home technology package, matte black hardware and private yards for select ground-floor units. Additionally, hard-surface countertops will be implemented in select homes.
“Because of its strong history of institutional ownership, the property has received regular capital improvements since its inception and was delivered in superb condition,” said David Deitz, president of Birchstone Residential. “That said, we believe we can further modernize the community and deliver outstanding customer service to provide an even more attractive option to discerning renters. We look forward to joining the submarket and offering a best-in-class experience.”
In addition to Florida, Ashcroft owns communities throughout Texas, Georgia and North Carolina. The company is actively pursuing additional markets in the Sun Belt.
Birchstone Residential, a culture-based property management company focused on creating great places to live, today announced the addition of multifamily veteran April Royal as vice president of property management. Royal will oversee regional and onsite operations across Birchstone’s portfolio of 14,000 apartment homes in Florida, Georgia, Texas and North Carolina.
Royal brings more than 25 years of multifamily management experience to her new role. Prior to joining Birchstone, she was the vice president of Capstone Real Estate Services’ multifamily operation.
“April is a proven leader with a passion for operations and an inspiring commitment to superior customer service for residents and associates alike,” said David Deitz, president of Birchstone Residential. “Her warm, transparent leadership style and ‘roll-up-her-sleeves’ attitude make her a great addition to our team. April’s gift for strategy and team-building perfectly positions Birchstone for success as we continue to grow our portfolio while providing residents with exceptional living experiences.”
Royal’s extensive career in multifamily includes work with conventional, tax credit, student housing and active adult apartment communities. She is a member of the Board of Directors of the Apartment Association of Tarrant County (Texas) and is on the path to become president of the association in 2026. Prior to her tenure at Capstone, she served in regional leadership roles at Knightvest Management, WRH Realty Services, Miles Properties and Flagship Properties Corp.
“Birchstone is a growing, dynamic company, and I am profoundly energized by the opportunity to play an important leadership role in its ongoing expansion and evolution,” Royal said. “Building and supporting high-functioning teams and delivering best-in-class living experiences is my passion, and I look forward to working with Birchstone’s talented associates to do just that.”
Ashcroft Capital, a fully integrated multifamily investment firm, today announced the acquisition of Halston Lakeside, a garden-style community in one of the fastest-growing regions on the Gulf Coast. Birchstone Residential, Ashcroft Capital’s in-house property management company and construction affiliate, has assumed management of the community.
Halston Lakeside (formerly Advenir at Gateway Lakes) features 358 apartment homes and marks Ashcroft’s first multifamily property in Sarasota and its ninth apartment community within Florida. The acquisition was completed through a new joint venture partnership with Iviron Capital.
“The Sarasota market aligns well with our Sun Belt growth strategy,” said Frank Roessler, founder and CEO of Ashcroft. “This is a region with a tremendous amount of favorable multifamily fundamentals. The metro ranked fourth in the nation for net in-migration in 2022 and has seen its population rise over 4% in the past three years. It also was not a difficult expansion for Ashcroft due to our existing multifamily presence in Tampa. Halston Lakeside represents a great opportunity for our management company, Birchstone Residential, to improve the quality of life for both existing and new residents through the implementation of our value-add business plan and excellent customer service.”
Halston Lakeside, which was initially built in 1996, offers one-, two- and three-bedroom homes with an average unit size of 968 square feet. Existing amenities include a resort-style swimming pool, resident clubhouse and business center, fitness center, picnic areas, playground, dog park and sports court.
“Iviron is very pleased to partner with Ashcroft on this transaction in one of Florida’s most attractive residential markets,” said Thomas Christopoul, co-founder and managing partner of Iviron Capital. “Ashcroft’s capabilities, track record and company culture are true differentiators, and we expect Halston Lakeside to be an exceptional community for its residents and a profitable venture for its investors. We look forward to pursuing more opportunities together.”
Ashcroft’s renovation efforts will include a complete update and modernization of the amenity spaces, adding EV charging stations, improved curb appeal and upgrades to landscaping and signage. In-home renovations will include the additions of stainless-steel appliances, hard-surface countertops, tile backsplashes, vinyl-plank flooring, upgraded lighting and plumbing fixtures, matte black hardware, a smart home technology package and private yards for select ground-floor homes.
Situated at 1000 Marlin Lakes Circle, Halston Lakeside sits just west of Interstate 75, which provides residents with expedient access to the key employment hubs in Tampa/St. Petersburg to the north and Ft. Myers/Naples to the south. Residents also have prime access to downtown Sarasota, Sarasota’s local beaches, Sarasota Bradenton International Airport and University Town Center, which features more than 4 million square feet of high-end retail and various dining options. All are within a 20-minute drive from the community.
“The property has had a strong history of institutional ownership,” said David Deitz, president of Birchstone Residential. “The previous owner dedicated a substantial amount of capital to improvements. We believe we can take the next step and create a further modernized community that features higher-end finishes. We also believe the addition of tech packages to all units and private yards to select homes will further increase its appeal.”
In addition to Florida, Ashcroft owns communities throughout Texas, Georgia and North Carolina. The company is actively pursuing additional markets in the Sun Belt.
Ashcroft Capital, a fully integrated multifamily investment firm, today announced the acquisition of four apartment communities totaling 1,080 homes in the Atlanta metropolitan area. Birchstone Residential, Ashcroft Capital’s in-house property management company, has assumed management of the communities.
The Atlanta-area communities include Halston McDonough (formerly Carrington Green) in McDonough, Ga., Halston South Point (formerly Villas at Southpoint) in McDonough, Halston Shiloh Valley (formerly Shiloh Valley Overlook) in Kennesaw, Ga., and Halston Harris Bridge (formerly Harris Bridge Overlook) in Dallas, Ga.
“In spite of capital market fluctuations, we remain bullish on multifamily based on the current and projected fundamentals within our Sun Belt metros. Because of this, we're excited to acquire this value-add portfolio of four core-plus quality properties located in a high-growth metro in which we have an existing presence,” said Frank Roessler, founder and CEO of Ashcroft. “Additionally, this portfolio had a very strong history of institutional ownership, and the previous regime handed them off to us with minimal deferred maintenance. That said, we believe we can significantly improve the assets by updating the classic homes and further modernizing the amenity spaces.”
With the acquisitions, Ashcroft now has 10 communities in metropolitan Atlanta.
“Atlanta is a great example of the kind of Sun Belt market we want to be in,” said Scott Lebenhart, chief investment officer for Ashcroft Capital. “It’s experiencing population growth, has a diverse economy and offers a tremendous quality of life. In short, it’s exactly the kind of metro area in which renters want to be. We only entered the metro Atlanta market last year, but we’re committed to growing a significant portfolio in the area because of the rock-solid fundamentals of the apartment market there.”
The business plan will be similar at each community, as Ashcroft and Birchstone plan to fully refresh the amenity spaces, implement landscaping improvements, upgrade signage and improve overall curb appeal.
In-home upgrades will include the additions of stainless-steel appliances, hard-surface countertops, tile backsplashes, vinyl-plank flooring, upgraded lighting and plumbing fixtures, USB ports and new cabinet fronts with modern pulls. Additional improvement measures will include the addition of washer/dryer sets and the implementation of valet trash service.
Existing community amenities are similar at the properties, as each community features a swimming pool, resident clubhouse and business center, fitness center, picnic areas, playground, laundry facilities and a sports court. Apartment interiors at the classic homes in the properties include laminate countertops, black appliances, wood-style cabinet fronts, walk-in closets, private patios or balconies and washer/dryer sets in select homes.
“All four of these assets are highly desirable given the quality and characteristics of the properties,” said David Deitz, president of Birchstone. “They will fit seamlessly into our portfolio, and we believe our in-home renovations and modernization of property features will elevate each community in the pecking order of their respective submarkets. We fully anticipate demand to significantly increase at each property.”
Birchstone Residential, a culture-based property management company focused on creating great places to live, today announced the addition of Melanie Stiles as vice president of marketing. The hiring marks an integral moment in Birchstone’s continued growth and emergence as a premier apartment operator.
With a 25-year career in multifamily, Stiles brings a wealth of expertise and experience to Birchstone. She most recently served as vice president of marketing at Highmark Residential. In her new position, she will oversee Birchstone's integrated marketing communication, customer acquisition platform and brand image.
“Melanie is truly committed to cutting-edge marketing strategies and brand storytelling,” said David Deitz, president of Birchstone Residential. “She is a proven leader who thinks big and guides her teams with a warm, empathetic style. Simply put, we could not be more excited about what her addition means for Birchstone as we continue to grow at a brisk yet strategic pace.”
Over the course of her multifamily career, Stiles has provided marketing expertise and thought leadership for companies publicly traded on the Toronto Stock Exchange and the New York Stock Exchange, as well as for private companies. She has extensive experience in team leadership, brand development, advertising, digital marketing, communications, operations and learning and development. She also has played a vital role in integrating companies after numerous mergers and acquisitions.
At Highmark Residential, Stiles developed and carried out the company’s communication and integrated marketing strategies for more than 90,000 apartment homes across the U.S. Previously, she was in charge of Milestone Management's corporate and real estate marketing initiatives. At the time, the company was the largest REIT listed on the Toronto Stock Exchange.
“I am thrilled to become part of the dynamic Birchstone team,” Stiles said. “People across the industry are definitely taking notice of this emerging company, and I can’t wait to work with this group of wildly talented people to innovate and continue Birchstone’s remarkable growth.”
