December 28, 2022

By: Evan Polaski, Investor Relations Managing Director

We are proud to announce that we have officially closed on Midtown 501. Birchstone Residential, our in-house property management company, has hit the ground running and is implementing our Value-Add business plan, beginning with rebranding the property.

Here are just a few of the highlights of our Midtown 501 property:

  • The school district (Chapel Hill Carrboro County School System) that serves the property has been ranked by as the #1 school district in North Carolina.
  • The 2022 year-to-date rent growth at Midtown 501 is 12.4%, compared to a US national average of 4.7%.
  • The average household income within a one-mile radius of the property is greater than $127,000 per year.

Our team recently hosted a tour of this site. Watch the video below to learn more about the property and see investors’ reactions.

With the closing of this asset, we are able to offer all investors who complete their investment before the end of the year a share in the 100% bonus depreciation, and your returns will begin on January 1. You must invest before the end of the year to take advantage of this opportunity. In 2023, the bonus depreciation rate falls to 80%. Don’t miss out on your opportunity to participate in the first distribution payout.

If this isn’t reason enough to act now, we introduced for AVAF3 our Ashcroft Investment Incentive. As a Class B investor with our new waterfall structure, you have the potential to receive a higher return on your investments. With monthly distributions based on your investment’s start date, the sooner you invest, the sooner your money will begin working for you and generating distributions.

If you are ready to take advantage of the benefits of this fund, click here. If you have further questions, please do not hesitate to contact investor relations at or myself at