New York investment firm pays $55.7M for Clearwater apartments
July 22, 2020 - Ashcroft Capital, a national multi-family investment firm headquartered in New York, now owns Woodland Key Apartments, a 416-unit complex at 2770 Roosevelt Blvd. in Clearwater. Ashcroft paid $55.7 million for the property, according to a deed filed July 20 in Pinellas County. The seller was Roosevelt Boulevard Apartment LLC, which bought the apartment complex in 2014 for $18 million, county property records show. Woodland Key, at 2770 Roosevelt Blvd., has had $10 million in physical upgrades since then, according to Ashcroft Capital's website. Ashcroft Capital "successfully negotiated a substantial reduction in price," and solicited accredited investors to participate in the purchase of Woodland Key, the website said. A request for additional comment from Ashcroft Capital was pending return.