Ascentris and Optima Close-Out Optima Kierland II Condominiums
Denver, CO (April 1, 2019) – Ascentris, a Denver-based real estate private equity firm, announced today the closing of all the units in 7120 Optima Kierland (“Optima Kierland II”), a 12-story condominium tower in Scottsdale, Arizona. Ascentris and its development partner, Optima, completed construction of the 220-unit luxury condo tower at the beginning of 2018; the building was nearly 80% pre-sold prior to delivery.
Optima Kierland II was the second phase of a four-phase residential development master-planned by Optima, consisting of two apartment towers and two condominium towers. The first phase, 7160 Optima Kierland (“Optima Kierland I”), a 150-unit apartment property, was developed by Ascentris and Optima in 2017. Ascentris successfully exited Optima Kierland I in early 2019 when Optima recapitalized the investment with a global investment management firm.
The third phase, 7180 Optima Kierland (“Optima Kierland III”), will be a 202-unit condominium tower also developed by Ascentris and Optima. Construction began at the end of 2018 and the tower is expected to deliver in 1Q-2021. Nearly 30% of the units in Optima Kierland III have already been sold. The new tower is being marketed for sale by Optima Realty Inc.
Both condominium buildings feature a full-service fitness center, rooftop pool, sauna, basketball court, yoga room, media center, squash court, and golf simulator, with Optima Kierland III adding a rooftop running track and pickleball court to the list of amenities. The Skydeck allows for some of the best unobstructed, 360-degree views in all of greater Phoenix. In addition to the exclusive amenities and bespoke interior finishes, all of the homes have floor-to-ceiling windows and spacious private terraces featuring Optima’s signature vertical landscaping system.
“Optima Kierland II & III Condominiums epitomize luxury condominium living in Scottsdale. The combination of a great location, distinctive design, world class amenities, and incredible views make the properties highly desirable, as evidenced by the rapid sellout of Optima Kierland II and robust demand for the new tower, Optima Kierland III,” said Jeffrey Stonger, Ascentris Managing Director.
About Optima
Optima, Inc. is a privately-held, design-driven real estate development firm with offices in Illinois and Arizona. For more than 40 years, Optima has been developing, designing, building and managing striking urban and suburban luxury residential communities. From the beginning, Optima aimed to reinvent housing by integrating the functions involved in new construction within one company. Optima controls and executes every aspect of the process in-house – development, design, construction, sales and management – for a dynamic system that offers greater focus and fluidity. Optima is committed to delivering extraordinary living through design, innovation, sustainability and management. Learn more at www.optimaweb.com.