Las Brisas Apartments
In 2014, Frank Roessler founded Ashcroft Capital, a real estate investment firm that acquires and renovates multifamily properties throughout the United States. The firm’s portfolio currently includes 2,613 units valued at $191,000,000. As managing partner of Ashcroft Capital, Frank Roessler oversees every aspect of the operation, including the acquisition of one of its newest properties, Las Brisas Apartments.
Las Brisas Apartments is a gated community in Dallas, Texas, consisting of 244 one- and two-bedroom apartment units. Las Brisas offers nine different floor plans, ranging in size from 443 square feet for its smallest one-bedroom-one-bathroom unit to 1,240 square feet for its largest two-bedroom-two-bathroom unit at. The apartments are all newly renovated with modern cosmetic touches such as stainless steel kitchen appliances, faux hardwood floors, faux wood blinds, and energy-efficient air conditioning. Select units also come with vaulted ceilings, fireplaces, granite countertops, and washer/dryer connections.
Las Brisas is a family- and pet-friendly community that contains a new playground and a dog park. For outside get-togethers, it also has a pool with a raised deck, an outdoor barbeque grill, and a fire pit.
For more information on Frank Roessler and Ashcroft Capital’s investments, visit www.ashcroftcapital.com/about/frank-roessler/.
The recipient of an MBA from UCLA’s Anderson School of Management, Frank Roessler founded the investment firm Ashcroft Capital Properties. The firm, which Frank Roessler serves as the managing principal, focuses on Class A and Class B multifamily value-add properties with more than 100 units.
Multifamily property classifications can vary between markets, but they are generally defined as follows:
Class A multifamily properties are typically less than 10 years old or have undergone significant renovations, with high-end interior and exterior amenities. Found in the best neighborhoods and built with high-quality materials, Class A properties enjoy more financing options at lower rates and longer amortizations and fixed-rate terms.
Class B multifamily properties are typically under 20 years old with fewer or older amenities than Class A properties. Built with quality materials and with little or no deferred maintenance, Class B properties are often considered value-add investment opportunities, although with fewer financing options and slightly higher rates.
Class C multifamily properties generally include buildings that were built within the past 30 years, with dated improvements and deferred maintenance. A majority of the appliances in Class C properties are original. The financing options for these properties are similar to those for Class B properties, albeit somewhat more limited.
Class D multifamily properties are typically more than 30 years old and situated in mediocre or fringe locations with no amenity package and system components with little remaining economic life. These properties exhibit marginal quality in terms of construction and are in generally poor condition. Financing for Class D properties typically comes from local banks, with little interest from secondary and tertiary lenders. Loan terms will be shorter, and rates will be higher. While other class type typically do not require personal guarantees, the borrower takes on full responsibility for the loan associated with a Class D property in the case of default.
In 2015, entrepreneur Frank Roessler founded the investment firm Ashcroft Capital in Westwood, California. Under Frank Roessler’s leadership, the firm seeks to renovate and rebrand its real estate assets.
In addition to making a property recognizable, branding is essential for long-term growth and success. A consistent brand strategy within a portfolio adds value through renter loyalty as well as referrals to friends and family.
Branding is also valuable when properties want to entice residents to leave one community to come to theirs. Companies with defined brands are more successful at attracting residents from competing communities.
Another benefit of creating a brand is improved marketing efficiency. A single message covering multiple properties reduces media and personnel costs. Additionally, the widespread use of social media reinforces the need for branding because the reaction to a property in online communities such as Facebook and Twitter can quickly resonate to properties in completely different areas.
Anderson Real Estate Association
The founder of Ashcroft Capital, Frank Roessler brings more than a decade of experience in multifamily investment and asset management to the Westwood, California, company. Prior to establishing his career, Frank Roessler graduated with a master of business administration in real estate finance from the University of California, Los Angeles Anderson School of Management. He also held membership with the university’s Anderson Real Estate Association (AREA).
AREA enables students to advance their real estate education by becoming part of a professional community that promotes industry awareness and prepares them to market themselves after graduation. Members learn an assortment of skills to help them succeed in the real estate industry, such as how to conduct appropriate career searches. The association also explores essential real estate principles and concepts and provides students with networking opportunities that broaden their knowledge and social connections.
Specific programs and event series offered by AREA include the Distinguished Speakers Series, the Mentoring Program, and the Real Estate 101 series of workshops. Students may also visit the offices of established real estate companies through the Days on the Job program and receive advice from UCLA graduates in the real estate field at alumni networking mixers. In addition, members are invited to participate in the annual NAIOP Challenge organized by the National Association of Industrial and Office Properties.
Western Station Apartments
A real estate investor with over a decade of experience, Frank Roessler oversees all aspects of operation and management for Ashcroft Capital as its principal investor. Frank Roessler leads the California-based company in the acquisition of various multifamily properties located in and beyond California. The company’s portfolio includes several Texas apartment complexes such as the Western Station Apartment Homes in Fort Worth.
Western Station is situated in the community of Foster Creek and presents residents with newly renovated interiors. With 201 units and nine floor plans, the complex offers one-, two-, and three-bedroom homes that feature an assortment of amenities.
Apartment living space features range from garden soaking tubs and fireplaces to upgraded appliance packages and spacious patios and balconies. Residents will also benefit from community amenities that include a resident lounge, trash service, a business center, and a 24-hour fitness center with saunas. Furthermore, outdoor enthusiasts can take advantage of the complex’s two swimming pools, a life-size chess board, picnic areas, and nearby jogging trails.