Ascentris and East West Partners Close on 13-Acre Mixed-Use Development in Denver, CO
Denver, Colorado (October 22, 2024) – Ascentris and Denver-based developer, East West Partners, are pleased to announce the closing of Cherry Creek West, a 13-acre, master-planned, mixed-use development located in the heart of the Cherry Creek submarket of Denver, CO. Cherry Creek West will ultimately consist of 1.6M sf of residential, office, and retail uses upon final completion. The development marks the second joint venture between Ascentris and East West Partners, who together in 2019 developed The Coloradan, a 334-unit condominium building with 22K sf of ground-floor retail in the Union Station neighborhood of Denver.
Cherry Creek West spans from University Boulevard to Clayton Lane and from 1st Avenue to the Cherry Creek waterway, comprising roughly four city blocks. Current plans include the development and creation of approximately 825 multifamily units, 600,000 sf of office space, 100,000 sf of retail, an abundance of underground parking with over 2,000 spaces, as well as four acres of open space.
“We are incredibly excited to partner with East West Partners on this tremendous mixed-use development. Cherry Creek West will create an environment that everyone in the community will enjoy and cherish for generations to come. As a Denver-based firm with many of our employees connected to the Cherry Creek community, being able to develop such an exciting project within an already vibrant area of Denver to enhance the quality of life for future Coloradan’s is a once in a lifetime opportunity,” said Ascentris Chief Executive Officer and Co-Founder, Gabe Finke.
East West Partners Chief Executive Officer, Chris Frampton, added “We are thrilled to expand our partnership with Ascentris on such a special project. With our zoning in place, and now a closed joint venture with a trusted partner, we are very excited to create a terrific place at Cherry Creek West.”
About East West Partners
East West Partners is devoted to building, selling, managing and supporting high-quality real estate and life experiences with a focus on innovation, sustainability and community. Since 1986, the firm has developed and sold over $7 billion of residential and commercial real estate across the country. East West Partners is one of several companies to have received three Urban Land Institute Awards for Excellence for their projects – Beaver Creek Village in Beaver Creek, Colo.; and Union Station Neighborhood and Riverfront Park, both in Denver, Colo. For more information on East West Partners, visit www.ewpartners.com.
About Ascentris
Ascentris is a real estate private equity firm based in Denver, Colorado that manages a series of fully discretionary institutional vehicles targeting both value-add and core investments across the major property types and geographic regions within the United States. Since 2003, Ascentris’ management team has relied on an investment philosophy and organizational structure that provides an unmatched level of service, transparency, and accountability. Ascentris is a privately held and management-owned SEC-registered[1] investment adviser that maintains an unwavering commitment to put its investors’ needs first. Additional information is available at Ascentris.com.
[1] Being a registered Investment Advisor with the SEC does not imply any level of skill or training.