Ashcroft Capital

It could have been worse, is not a strong endorsement, but it's the truth! I invested through Ashcroft in a 2020 value-add apartment deal in the Tampa area. I held the growth-class equity. It sold in mid-2026 after about six years. I got 1.10x back in cash, a realized IRR of about 2.1%, against a plan of 2.0x and 16.2%. About 86% of my principal came back as capital and the rest came back as earlier distributions. A small escrow release may still add a little. The deal was financed with floating-rate debt, and the 2022-24 rate rise is what sank it: distributions were paused in late 2023, renovations stopped, and occupancy dropped into the mid-80s before recovering. Communication was frequent. There were monthly recaps for most of the hold, quarterly financials and rent rolls from 2024 on, and K-1s on time. When distributions stopped, Ashcroft explained why and paused its own fees. When it considered a capital call in late 2025, it spelled out the alternative plainly: an immediate sale at a loss of equity. The path to the exit was messy, though. A sale was launched, then pulled after low offers. A capital call was floated and then dropped. A group tax-deferred exchange was offered and then cancelled for lack of participation. Some recaps also struck an upbeat tone that the result did not bear out. Bottom line: The outcome was poor, but most of the damage came from a rate shock on floating debt. Compared to other deals of this vintage, it was an OK result - I was happy to get my capital back. The communication was candid and timely, so I might consider Ashcroft again, but only on deals with fixed-rate or conservatively hedged debt.

I invested across multiple funds and suffered a near-total loss, losing at least 95% of everything I invested. The money was intended to support my retirement, and the result was financially devastating, essentially a complete wipeout of many years of savings. The investments were managed terribly, and the communication was just as bad. Updates were often delayed, vague, and lacking in transparency, even as investors were suffering enormous losses. I have also seen what appears to be an aggressive effort to challenge or remove negative reviews on Google and online forums by claiming that the reviewers were not legitimate investors. In my opinion, this gives the appearance of suppressing criticism while continuing to raise money from new investors. This was a catastrophic financial loss that destroyed nearly everything I had set aside for retirement. The entire experience was unacceptable, and disgraceful.

I first invested in an apartment syndication that went well. Cashed some out at the sale and rolled some into a new deal. Then I invested with my IRA in a different (value add)Ashcroft offer only to find out the value add fund was a big investor in the other one. Talk about feeling duped! They’re both expected to sell at a loss despite me adding to one of many capital calls. It’s my opinion the sponsors are making money since they’re still raising capital for other deals. They are better at sales pitches, glossy brochures, conferences and newsletters than they are at making money for their investors. In fact, their investors can lose all their money, certainly looks like I will. In fairness, I didn’t do sufficient due diligence, so some is on me, but all the money is gone.