NFL Dreams Drive Real Estate Bet in Dallas

By Candace Carlisle

Duncanville High School south of Dallas has produced graduates who are such talented football players they are standouts in the NFL. Now that success has drawn something else: a New York-based investor who bought an apartment complex across the street from the school’s football field.

Ashcroft Capital acquired Birchstone Cedar Ridge, a year-old multifamily property in a bet that families will keep moving there so their children can be in the football program. Former students include two-time Super Bowl champion and NFL legend Ray Crockett, former Pittsburgh Steelers running back Barry Foster, and Super Bowl winner and current defensive tackle for the Las Vegas Raiders Adam Butler.

“The football team is incredible,” Ashcroft Founder and CEO Frank Roessler said in an exclusive interview. Ashcroft and other investors tend to favor the wealthier suburbs north of Dallas for apartment purchases, but Birchstone Cedar Ridge’s newly built status and its proximity to Duncanville High School made it an attractive investment, Roessler said.

Read the full article in CoStar.