Denver, Colorado (September 30, 2021)
Ascentris, a Denver-based real estate private equity company, announced that it has transferred SALT, a luxury lakeside residential community located in Tempe, Arizona, to a long-term hold vehicle it manages.
“Ascentris and its investors are thrilled to add SALT to their core holdings,” said James Proffitt, Vice President at Ascentris. “The property’s irreplaceable location along Tempe Town Lake coupled with Tempe’s population and employment growth trajectories make it an ideal fit for a long-term hold portfolio. The transfer will allow Ascentris and its investors to continue to own a generational, core property while avoiding excessive frictional costs associated with open market transactions,” added Proffitt.
Delivered in 2017, SALT consists of 265 units located on the south side of Tempe Town Lake immediately adjacent to Marina Heights and State Farm’s five-building, two-million-square-foot office campus.
The community includes four floors of studio, one-, two-, and three-bedroom residences with panoramic views of Tempe Town Lake and “A” Mountain, with direct access to the walkable amenities throughout Tempe.
Fourth-floor loft residences feature double-height ceilings with floor-to-ceiling windows. All units include luxury finishes, large windows and contemporary design.
Community amenities include two saltwater pools, cabanas, poolside BBQ areas, a lakeside entertainment deck, dog run, yoga lawn, social lounge and media room, business center and a gym overlooking Tempe Town Lake.
About Ascentris
Ascentris is a real estate private equity firm based in Denver, Colorado. With over $2.2 billion in assets under management, Ascentris manages a series of fully discretionary institutional vehicles targeting both value-add and core investments across 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 allows investors to access opportunities ahead of the market while receiving a high level of service, transparency and accountability. Ascentris is a privately held and management-owned SEC registered investment adviser committed to putting its investors’ needs first. Additional information is available at www.ascentris.com.
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