Denver, Colorado (October 16, 2018)
Ascentris, a Denver-based real estate private equity company, announced today that it has finalized the formation of a new investment vehicle for the purposes of transferring stabilized core properties from its value-add portfolio into a new long-term hold portfolio. The core vehicle was seeded by a stabilized class-A office building located in downtown Chicago, Illinois.“This new vehicle provides both our clients and operating partners with a host of benefits,” said Denis Curran, Vice President of Ascentris. “We are now able to provide our clients with broader access to high-quality core real estate while avoiding excessive frictional costs associated with open market transactions. Our operating partners benefit as well as they now have the option to remain invested long-term in properties we have either acquired or developed together.” added Curran.Since its formation, Ascentris has either acquired and repositioned or developed over $1.0 billion of value-add real estate that ultimately sold to core buyers seeking long-term holds. Now that the new vehicle is in place, Ascentris, its clients and operating partners will receive the benefit of harvesting long-term cash flows upon the successful execution of the property’s value-add business plan.
%20(1).avif)